Sun, 27th Apr 2025

In this weekly roundup of superannuation news, Paige Estritori from Financial Services Online discusses major developments in Australia. The Association of Superannuation Funds of Australia (ASFA) recommends a Payday Super Advisory Council to oversee the upcoming Payday Superannuation regime. The proposal to utilize superannuation for housing deposits, amidst rising house prices, has caused wide-ranging debates. While the Payday Super scheme can address some unpaid superannuation dues, the ASFA suggests stronger measures might be needed for situations where businesses become insolvent. Another concern highlighted is the increasing retirement anxiety in Australia, highest in the past seven years, due to inflation and rising costs causing more Australians to use their savings for daily needs. This report underscores the need for effective policy reactions to maintain economic stability and consumer confidence.n