Thu, 20th Mar 2025

In this week's Superannuation News Wrap, Paige Estritori from Financial Services Online discusses updates on the Australian Securities and Investments Commission (ASIC) and the global retirement savings crisis. ASIC has taken action against non-compliant Self-Managed Superannuation Fund auditors, disqualifying four, and imposing conditions on two while revoking 11 registrations from July to December last year. The move was in response to non-compliance with auditing standards and professional independence. Also discussed are findings from the Amundi Investment Institute showing a significant global retirement savings crisis led by behavioural challenges and limited awareness. It is suggested that tax incentives, increased financial education, employer-initiated auto-contributions, and reforms are potential solutions. Innovative tools like virtual reality and pension simulators are also seen as valuable in engaging individuals in retirement planning. These deliberations aim to encourage financial inclusion and a more secure future for retirees.