Fri, 5th Apr 2024

This week's superannuation news highlights concerns over proposals to allow superannuation funds for home deposits which could potentially benefit higher-income earners disproportionately and escalate housing prices, as per an analysis by the Association of Superannuation Funds of Australia. New tax regulations are being implemented to address super fund transfer issues. Moreover, the Australian Prudential Regulation Authority is reviewing super fund investments in non-governmental affordable housing to ensure fiduciary duty compliance. The Australian Council of Trade Unions has also received significant industry super fund contributions aimed at added member value. Lastly, Aware Super is concentrating on socially responsible investing by focusing on the gender superannuation gap and promoting investments in socially beneficial areas.