POWERED BY MOMENTUM MEDIA
APRA approves REI Super for MySuper
REI Super has received authorisation from the Australian Prudential Regulation Authority (APRA) to offer a MySuper product from 1 July.
REI Super chief executive Mal Smith said the fund's existing default product, the trustee super balanced option, would become the fund's new MySuper investment option.
Smith said MySuper was a continuation of the fund's current investment approach — low fees, diversified investment options and strong investment returns.
"As REI Super is a fund named in both the Federal Modern Real Estate and Clerical awards, it continues to offer members and employers a highly suitable superannuation solution," he said.
"Our ability to offer a value-for-money default super fund for members also ensures employers in the real estate industry can meet the Government's requirements in relation to their super obligations."
Employers will be required to pay employees' super contributions into a MySuper product unless choice of fund has been exercised.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Introducing reforms for strengthening simpler and faster claims handling and better servicing for First Nations members are critical priorities, according to the Super Members Council.
The Commonwealth Bank has warned that uncapped superannuation concessions may be “unsustainable” and has called for the introduction of a superannuation cap.
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
