The data confirms more money in choice super
New data released by the Australian Prudential Regulation Authority (APRA) has reinforced the challenge ahead of the regulator as it moves towards applying the Your Future, Your Super performance test to choice products.
The new quarterly superannuation industry data approach confirms that while there are double the number of MySuper products, double the number of member assets are invested in choice products.
The analysis, in dashboard form, revealed there are 14.1 million MySuper accounts containing $875 billion in assets, compared to just 7.4 million choice accounts containing $1,090 billion in assets.
What is more, the dashboards point to average member account balances being close to 45% higher than those for MySuper products.
Is it not a cost of completing the transaction? Why should it be removed from any analysis, applicable govt charges…
Misleading figures. We’d have millions and millions removed in our client base with LS. Almost 100% came straight back in…
Financial planners, you know exactly what will happen next. Get your wallets out- Cslr bill coming your way!
Another day and yet another shouty SMC story running about trying to push regulators to enter union super into Australian…
These funds should be a lot more concerned about their investment returns, which are starting to look very sick. Waiting…