Industry funds have vastly outpaced their retail fund counterparts, gaining $10 billion over the last 12 months.
Unveiling the 2023 Intergenerational Report, Treasurer Jim Chalmers has called the retirement phase of super the government’s next frontier and flagged further consultation to address ‘longevity risk’ in the system.
MLC Life Insurance has thrown its support behind the 10th annual Super Fund of the Year Awards as platinum partner.
AvSuper and Australian Retirement Trust have signed a heads of agreement to proceed with the merger which is now expected to complete in April 2024.
The annual expenditure needed to reach ASFA’s comfortable retirement standard rose again in the June quarter as retirees continue to face significant cost pressures on their budgets.
New research from Aware Super on the occasion of Equal Pay Day reveals Australia’s 13 per cent gender pay gap will equate to a $93,000 deficit in women’s super balances compared to men at retirement.
Regardless of their retirement status, women are displaying less engagement with their super fund and a third have never initiated contact with their fund, according to Vanguard analysis.
The corporate super fund has entered a five-year partnership deal with Link Group to expand its technology platforms and customer experience.
Super funds have seen a promising start to the new financial year, with the median growth fund returning 1.5 per cent in July driven by strong listed sharemarket performance.
Rest has announced it will close its bonds and shares options to new members from 30 September 2023.