Mon, 21st Apr 2025

This week's Superannuation News Wrap covers major developments in the Australian finance sector. Starting with escalating cybersecurity threats impacting Australian super funds, including AustralianSuper, MLC Expand, and Hostplus, the discussion reveals these breaches as signs of wider sector failure. There's a growing demand to strengthen online security, a vital step in building trust with clients. Election-centric talks focus on pressing financial policies with the Super Members Council and ASFA advocating for bipartisan actions. Issues like taxation of unrealised capital gains and the Compensation Scheme of Last Resort are under debate. ASFA also proposes changes such as payday superannuation, stronger crime protections and expansion of Low Income Superannuation Tax Offset. In corporate news, Centrepoint Alliances acquisition of Brighter Super's advice review business is poised to expand their presence in the market. Lastly, leading accounting associations call for a united approach on pension regulations by the ATO and APRA to prevent potential discrepancies.n