Sat, 22nd Feb 2025

In this episode of Financial Services Online's Weekly Superannuation News Wrap, Paige Estritori discusses recent events from the Australian superannuation landscape. The year kicked off brightly for Australian super funds. January presented a notable 2.2% surge in the median growth fund, driven by strong domestic and international share performance. However, the conversation shifted to serious concerns at the Professional Planner Advice Policy Summit, where industry leaders underscored the importance of raising contribution rates and modifying preservation rules amidst conditions of financial hardship. Recent Senate proposals, urging super funds to utilize shareholder funding instead of members' capital to cover fines, could potentially destabilize profit-to-member funds. Regulatory attention on funds like Cbus, regulatory scrutiny, and legislative hurdles for the proposed $3 million superannuation tax cap, also make some of the highlights of this podcast.