Superannuation News Wrap
This episode of the Weekly Superannuation News Wrap discusses changes in the self-managed super funds (SMSF) sector, with a rise in Australians controlling their retirement and experts urging use of due diligence when considering SMSFs. Despite a challenging financial year, the superannuation sector shows steady growth due to diversified investment strategies buffering against market volatility. The Australian Securities and Investments Commission (ASIC) plans alterations to the fee disclosure framework for superannuation funds, aiming to improve consumer fee transparency. There has been a growing demand for super funds to incorporate Environmental, Social, and Governance (ESG) standards, pushing for more sustainable, socially responsible investments. The Protecting Your Super Package is being updated to aid inactive, low balance, and new member accounts, further promoting secure retirement savings for Australians.
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