Sat, 7th Dec 2024

In this week's Superannuation News Wrap, Paige Estritori discusses key issues impacting the Australian finance and superannuation sectors. The urgent need for uniform performance assessment standards in managed account industries is discussed at the Professional Planner Researcher Forum to avoid regulatory scrutiny and client mistrust. A controversial case of an elderly couple reducing their assets to retain their part-age pension highlights broader issues of retirement readiness. The Australian Securities and Investments Commission calls for enhanced scrutiny of underperforming superannuation choice products to increase governance and transparency. The industry sees considerable growth with superannuation assets surpassing $4 trillion. Lastly, Parliament reaffirms the primary purpose of superannuation as delivering retirement income, preventing any potential shift towards the housing sector.