Thu, 27th Mar 2025

This week's Superannuation News Wrap highlights significant fines imposed on Active Super and Mercer Superannuation by the Federal Court for misleading environmental claims, as concerns about 'greenwashing' rise. The Australian Securities and Investments Commission (ASIC) emphasizes the need for truth in green investment actions. Superannuation funds are seeking an extension of the breach reporting time up to 60 days, due to difficulties in handling breaches and offering adequate compensation. As the Federal budget approaches, a survey indicates concerns over changes to Superannuation and aged care. Despite these concerns, 96% of advisors are not planning immediate changes in asset allocation. Furthermore, a Mercer report suggests potential issues with insurance in Australian Superannuation, with only 50% of members being covered and sustainability under threat due to legislation. Market domination by few insurers is also identified as a challenge for diversification.