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Showing 1 - 10 of 531 results for "MySuper Product"

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... to 30 June 2023 were $134 billion, while $76 billion was paid out in benefits. The average account balance in a MySuper product is just shy of $64,000, while the average balance overall is $111,380.

How young Australians are missing out on better super returns

ANDREW MCKEAN  |  TUESDAY, 12 DEC 2023
Young Australians are missing out on higher superannuation returns by parking their retirement savings in default MySuper products, instead of exploring other investment options. Analysis of APRA data by Innova Asset Management revealed that an all-equities ...

On-platform TDPs miss performance test benchmarks, worst on fees: APRA

ANDREW MCKEAN  |  WEDNESDAY, 29 NOV 2023
APRA has released new insights into superannuation product performance, revealing that most on-platform trustee directed products (TDPs) underperform their benchmark and exhibit higher administration fees. The prudential regulator's analysis based on ...

Super fund fees now at record low: Data

ANDREW MCKEAN  |  TUESDAY, 14 NOV 2023
Superannuation fees in Australia have reached a historic low, with the total expense ratio averaging 0.93% per annum, as per research from Rainmaker Information. Rainmaker Information's analysis of over 1500 superannuation fund fee options, spread across ...

E-commerce giant retreats from super

JAMIE WILLIAMSON  |  THURSDAY, 2 NOV 2023
... cheapest solutions. While the product has ultimately failed, it did achieve this goal; if Kogan Super had been a MySuper product, its fees of just 0.67% would have made it the third cheapest in market, just behind Vanguard and ANZ Staff Super.

Betashares carves slice of superannuation pie

CHLOE WALKER, JAMIE WILLIAMSON  |  WEDNESDAY, 27 SEP 2023
... sitting at about 1% for MySuper products, the pace of these fee reductions is too slow. For example, Vanguard's MySuper product charges just 0.58%, being the lowest cost, while the most expensive charges almost three times that at 1.5%. "Betashares' ...

Government must do more after product failures: FSC, SCA

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  FRIDAY, 1 SEP 2023
As the likes of Crescent Wealth and Insignia Financial respond to the 2023 superannuation performance test results, the Financial Services Council (FSC) and Super Consumers Australia have said the government must still do more to ensure members in underperforming ...

AMG Super terminates MySuper offer

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
... Future, Your Super performance test for a third time. AMG Super has announced to members that it will close its MySuper product early next year. The notice was issued to members on August 25. Five days later, APRA notified AMG Super it had failed the ...

Ninety-seven super products fail performance test

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
Of the 97 products to fail this year's superannuation performance test, 96 are trustee-directed products - 75% of which are issued by the same four trustees. Released this morning, the 2023 performance test marks the first time trustee-directed ...

Super assets continue to climb: APRA

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
APRA has published its Quarterly Superannuation Performance and Quarterly MySuper Statistics report, revealing surging growth in the superannuation sector. Total superannuation assets increased by 7.6%, reaching $3.54 trillion in the year to June, compared ...
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