APRA names 13 super fund failures
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Thirteen superannuation funds failed the Australian Prudential Regulation Authority’s (APRA’s) performance test.
The regulator announced the fail rate today at the same time as noting that 84% of products had passed.
APRA board member, Margaret Cole said that the trustees of the 13 products that failed now faced an important choice: “they can urgently make the improvements needed to ensure they pass next year’s test or start planning to transfer their members to a fund that can deliver better outcomes”.
RSE | MySuper product |
AMG Super | AMG MySuper |
ASGARD Independence Plan Division Two | ASGARD Employee MySuper |
Australian Catholic Superannuation and Retirement Fund | LifetimeOne |
AvSuper Fund | AvSuper Growth (MySuper) |
BOC Gases Superannuation Fund | BOC MySuper |
Christian Super | My Ethical Super |
Colonial First State FirstChoice Superannuation Trust | Colonial First State FirstChoice Superannuation Trust |
Commonwealth Bank Group Super | Accumulate Plus Balanced |
Energy Industries Superannuation Scheme-Pool A | Balanced (MySuper) |
Labour Union Co-Operative Retirement Fund | MySuper Balanced |
Maritime Super | MYSUPER INVESTMENT OPTION |
Retirement Wrap | BT Super MySuper |
The Victorian Independent Schools Superannuation Fund | VISSF Balanced Option (MySuper Product) |
Just wind them up please so the rest of the financial planning industry can move forward without an albatross around…
Compare the pair.
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