Sun, 2nd Jun 2024

In this episode of the Weekly Superannuation News Wrap, Paige Estritori discusses major changes in the Australian superannuation landscape. Key trends include a shift of Australians moving their super from industry funds to self-managed super funds (SMSFs), with outflows more than doubling since 2022, according to WealthData's research. Retail fund performances are improving, and despite some losses, industry funds still hold 34.9% of the market share. However, SMSFs and retail funds are increasing their stakes, holding 25% and 20.3% of the market respectively. Also noted is a rise in industry fund pension payouts and an increase in member engagement, indicating growing attentiveness to retirement planning. Listeners are encouraged to stay informed with these shifts in the superannuation industry using resources such as Financial Services Online.