Australian Prudential Regulation Authority (APRA) has named thirteen superannuation funds that have failed its inaugural performance test since the government’s “Your Future, Your Super” reform came into effect on July 1. The 13 underperforming default Mysuper products, which collectively hold 56 billion in assets for 1.1 million members, include Colonial First State’s retail product Firstchoice…
13 Worst-Performing Australian Super Funds Named Following Inaugural Test
Australian Government’s Superannuation Reform Bill Faces Challenges Despite Revision
The Australian government’s proposed changes to the superannuation fund performance test have faced criticism after the opposition said the Bill should not be supported following the inclusion of some controversial proposed reforms. Treasurer Josh Frydenberg and Superannuation Minister Jane Hume released the consultation draft regulations for the new Your Future, Your Super (YFYS) reform package on…
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