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.
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ASIC, So who do you think are going to pay your $200m in fines when this lot can’t even pay…
When, oh when, are you going to do an analysis of "wholesale only" advisers who are NOT on the FAR…
I’ve just paid the $1,295 CSLR levy, and honestly, I’m frustrated that my hard-earned money is being used to cover…
Just remind us again how much money a super trustee spent on their 40th birthday party using member funds? What…