Sat, 25th Jan 2025

In this episode of the Financial Services Online podcast, key events in Superannuation news are discussed, starting with the Financial Services Council's criticism of the "Your Future, Your Super" initiative. The council is concerned about the lack of consumer choice and the overemphasis on default superannuation policies, advocating for better customer engagement and more diverse product offerings. New information about profit-sharing between group life insurers and super funds is also explored, with the Australian Prudential Regulation Authority affirming the legality of premium adjustment mechanisms. Additionally, financial regulators APRA and ASIC support a dedicated code to manage climate risk, backed by industry leaders AustralianSuper and UniSuper. This episode emphasizes the importance of consumer choices in superannuation, vigilance in profit-sharing, and collaboration in managing climate risk.n