Fri, 8th Mar 2024

This week's Superannuation News Wrap discusses the Australian government's progressive policy extending superannuation contributions to the Paid Parental Leave program, estimated to boost super accounts by approximately $7,000 per leave and benefit around 180,000 mothers annually. The Investment Trends study reveals a gap between the perceived cost of financial advice and what Australians are willing to pay, suggesting digital platforms and tax-deductible advice fees could attract more clients. Australian pension fund, AustralianSuper, plans to invest £8 billion in the UK, enhancing sectors ranging from sustainable energy to digital infrastructure. Locally, superannuation funds report growth despite inflation and interest rate challenges, with SuperRatings indicating a 1.8% rise in balanced fund options. The Australian Securities and Investments Commission has cracked 3,500 fraudulent websites, imposed $59.8 million in penalties and launched 83 investigations under Chair Joe Longo.