Sun, 11th May 2025

This week's Superannuation News Wrap, presented by Paige Estritori for Financial Services Online, highlights the rising costs of the APRA levy impacting Australia's Superannuation Funds. The levy has increased by 147% over the last decade according to the Association of Superannuation Funds of Australia (ASFA) causing potential additional fees for MySuper members. This substantial increase has prompted calls for clarity about fund allocation. The Productivity Commission warns that over-reliance on levies could impede market competition, affecting financial sector's dynamic efficiency. Smaller superannuation funds may face disproportionate pressure due to APRA levy changes favoring larger funds. Though recent changes in the restricted component threshold may offer some relief, industry bodies call for equitable levy structures to ease financial pressures and keep the market competitive.n