POWERED BY MOMENTUM MEDIA
MySuper unlikely to boost retirement savings
MySuper is unlikely to boost the overall retirement savings of Australians, according to a survey of chief executives in the financial services industry.
Sixty per cent of the 86 chief executives surveyed as part of the Financial Services Council/DST 2012 CEO Report said MySuper would have "no impact at all" on overall retirement savings.
Ten per cent of chief executives thought MySuper would be "very effective", and 28 per cent thought it would provide a "modest lift".
However, respondents to the survey were more confident about the productivity gains likely to be generated by the SuperStream legislation - particularly when it came to the reduction in account proliferation and the expected reduction in the number of people holding multiple accounts.
Only 32 per cent of chief executives thought account consolidation would have no effect at all on the level of overall retirement savings. Four per cent thought it would be very effective, and 64 per cent said it would provide a modest lift.
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
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
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(%)
