Mon, 17th Jun 2024 - Superannuation News Wrap

What this episode covers

In this episode of the Weekly Superannuation News Wrap, host Paige Estritori warns of a growing trend exploiting Australian superannuation holders. Tactics include high-pressure cold calls urging individuals, particularly those between 25 and 50 years old with significant super balances, to switch to high fee, poor performance funds. These unethical tactics, using personal data frequently obtained through misleading online ads, exploit legal loopholes. Both the ACCC and the Super Members Council have issued alerts about these practices. Misha Schubert, CEO of The Super Members Council, and ASIC both suggest hanging up immediately if targeted. Estritori reminds listeners to stay vigilant about their superannuation, suggesting resources available at financialservicesonline.com.au to help protect against such fraudulent activities. She concludes by emphasizing the importance of community effort in ending these exploitative tactics.

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When was this Superannuation News Wrap episode published?

This episode was published on June 16, 2024.

What is this episode about?

In this episode of the Weekly Superannuation News Wrap, host Paige Estritori warns of a growing trend exploiting Australian superannuation holders. Tactics include high-pressure cold calls urging individuals, particularly those between 25 and 50...

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