Sat, 31st Aug 2024

In this episode of the Financial Services Online weekly superannuation news wrap, host Paige Estritori discusses the critical issue of unpaid superannuation in Australia, highlighting the Super Members Council's demand for legislative changes due to a $5.1 billion deficit in 2021-2122 alone. The most impacted are lower-income workers, migrants, women, and those in insecure jobs. Meanwhile, the Commonwealth Superannuation Corporation is introducing its Retirement Income Strategy, aimed at assisting public service and defense force members. In wider financial news, the Australian Prudential Regulation Authority revealed its 2024-25 Corporate Plan, focusing on enhancing financial stability and tackling climate risk in financial decisions. In all, the episode provides crucial insights into Australia's current and future financial landscape.