EPISODE · May 31, 2024 · 2 MIN
Sat, 1st Jun 2024
from Superannuation News Wrap · host Paige Estritori
In this episode of Financial Services Online's Weekly Superannuation News Wrap, Paige Estritori discusses the increasing trend in Australia of people transferring from industry superannuation funds to self-managed super funds (SMSFs). This shift has led to a doubling in outflows from industry funds since early 2022, driven in part by larger losses experienced by industry funds. Analysis shows a surge in transfers to SMSFs, with industry fund pension payouts increasing sharply from $1.49 billion in 2020 to $3.07 billion recently. The Investment Trends 2024 Super Member Engagement Report illustrates a rise in member engagement, particularly among those with higher balances, indicating that Australians are becoming more proactive in their retirement planning and are seeking better control and potentially, greater returns on superannuation funds.n
What this episode covers
In this episode of Financial Services Online's Weekly Superannuation News Wrap, Paige Estritori discusses the increasing trend in Australia of people transferring from industry superannuation funds to self-managed super funds (SMSFs). This shift has led to a doubling in outflows from industry funds since early 2022, driven in part by larger losses experienced by industry funds. Analysis shows a surge in transfers to SMSFs, with industry fund pension payouts increasing sharply from $1.49 billion in 2020 to $3.07 billion recently. The Investment Trends 2024 Super Member Engagement Report illustrates a rise in member engagement, particularly among those with higher balances, indicating that Australians are becoming more proactive in their retirement planning and are seeking better control and potentially, greater returns on superannuation funds.n
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Sat, 1st Jun 2024
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