Thu, 20th Feb 2025

In this Weekly Superannuation News Wrap, Paige Estritori discusses key developments and challenges faced in Australia's superannuation sector. The year started positively with a rise in growth funds due to strong shares from Australia and abroad, despite struggles in emerging markets and minimal growth in bonds. Future superannuation strategies were under debate at the Professional Planner Advice Policy Summit, with potential increases in contribution rates on the table. Critics suggest recent Senate committee proposals may destabilize profit-to-member funds, with regulations requiring super funds cover fines rather than members. The industry watchdog APRA is focusing more on risk management and spending, scrutinizing industry super funds. Lastly, proposed superannuation tax reforms face opposition in the Senate, advocating for a more equitable system.