Fri, 31st May 2024

In this episode of Weekly Superannuation News Wrap, Paige Estritori discusses recent shifts in the Australian superannuation landscape. The key development is an increasing move from industry superannuation funds to self-managed super funds (SMSFs), with outflows doubling since the start of 2022. Meanwhile, retail funds' performance is improving, almost matching that of industry funds. Despite the changing dynamics, industry funds still hold a 34.9% market share. The observed migration is attributed to larger losses by industry funds and increased member engagement, particularly among high balance members. The strengthened performance of SMSFs and retail funds is drawing investments away from industry funds, highlighting the growing importance of proactive retirement planning. Visit financialservicesonline.com.au for more insights on superannuation.