Financial Standard Comments - Member direct investment at "high water mark": AIST Superannuation funds offering member direct investment (MDI) options must design them to be in the best interest of their members, according to David Haynes, executive manager, policy and research at the Australian Institute of Superannuation Trustees. https://www.financialstandard.com.au/feed/latest?story=37882615 Sun, 16 Feb 2014 22:46:56 +1100 Sun, 16 Feb 2014 22:46:56 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by David Haynes (AIST)

I'd like to clarify one thing in your story. It's not that existing MDI options don't work - it's that they involve lots of moving parts, plenty of trustee involvement & lots of complexity all round. It's coming to terms with all of this that seems to have slowed down the momentum for MDI implementation.

In my talk, I identified a range of areas where MDI could be - & will be - extended but this is going to take some time, & will be accompanied by the growth of associated advice services.

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]]> David Haynes (AIST) Sun, 16 Feb 2014 22:46:56 +1100 Comment by Greg Leonard (None) Does this explain why Australia's largest super fund has increased its Member Direct annual fee by a massive 119% effective from June 1st, 2015? Is this an exit strategy or just a means of having members fund ballooning costs of running MDI options. Such fees render the MDI option borderline.

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]]> Greg Leonard (None) Tue, 02 Jun 2015 16:15:53 +1000