Sat, 10th May 2025

In this week's Superannuation News Wrap, we discuss alarming reports on the increase in Australian Prudential Regulation Authority (APRA) levies on superannuation funds. In the last decade, these costs have risen by 147%, causing concern over future market competition and warning against overreliance on these levies. The current structure seems to unfairly benefit larger super funds, prompting calls for a fairer structure. The Association of Superannuation Funds of Australia anticipates a member administration cost of $6 per account for MySuper members by 2025-2026. The disparity is evident as smaller super funds are likely to face greater charges. In other news, Aware Super is searching for a new Chief Investment Officer as the current officer, Damian Graham, transitions to heading international operations at their London office.