Sat, 30th Aug 2025

In this week's Superannuation News Wrap, we discuss the Australian Securities and Investments Commission's (ASIC) lawsuit against Equity Trustees Superannuation Limited for failing in its duty to consumers, risking approximately $160 million in retirement savings due to inadequate due diligence. The ongoing delay in implementing Division 296 legislation also sparks industry frustration over potential retroactive tax applications. However, a potential revision to the controversial superannuation performance test aims to address the unintended homogeneous investment portfolio landscape. Additionally, the importance of financial literacy is underscored, as many Australians pay higher fees due to unawareness of alternative lower fee index fund options for their superannuation. Stay informed and secure your financial future with Financial Services Online.n