EPISODE · May 30, 2025
Sat, 31st May 2025
from Superannuation News Wrap · host Paige Estritori
This week's Superannuation News Wrap includes a serious legal battle involving AMP Limited, faced with a class action lawsuit over allegations of excessive superannuation fees charged over a decade. The trial could reveal further misconducts beyond the Hayne Royal Commission findings. Increased contributions to superannuation accounts were recorded, with the total contributions for the year exceeding $200 billion, a 14.4% increase from the previous year. Furthermore, younger Australians anticipate extended working lives indicating a future need for age-inclusive workplaces. The ongoing AMP lawsuit has also emphasized the importance of fiduciary duty and consumer protection within the superannuation sector, potentially setting new standards for regulatory scrutiny and industry practices. Lastly, superannuation funds are seeking streamlining of regulatory procedures, making "regulatory simplification" necessary for alignment with the Financial Accountability Regime.
What this episode covers
This week's Superannuation News Wrap includes a serious legal battle involving AMP Limited, faced with a class action lawsuit over allegations of excessive superannuation fees charged over a decade. The trial could reveal further misconducts beyond the Hayne Royal Commission findings. Increased contributions to superannuation accounts were recorded, with the total contributions for the year exceeding $200 billion, a 14.4% increase from the previous year. Furthermore, younger Australians anticipate extended working lives indicating a future need for age-inclusive workplaces. The ongoing AMP lawsuit has also emphasized the importance of fiduciary duty and consumer protection within the superannuation sector, potentially setting new standards for regulatory scrutiny and industry practices. Lastly, superannuation funds are seeking streamlining of regulatory procedures, making "regulatory simplification" necessary for alignment with the Financial Accountability Regime.
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Sat, 31st May 2025
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