Thu, 4th Apr 2024

In this exciting week for the Australian superannuation industry, key discussions and transformations take place. The Australian Prudential Regulation Authority (APRA) confronts questions about super fund investments in affordable housing; Senator Andrew Bragg querying if such investments meet fiduciary duties. This begins debates around the governance standards that super fund investments may soon be subjected to. The Australian Council of Trade Unions (ACTU) announces an increase in member value through significant contributions received. These aim to maintain transparency while providing cost-effective benefits to members. Aware Super stresses its commitment to socially responsible investments that narrow gender superannuation gaps and simultaneously promise financial stability. Lastly, the Financial Services Council (FSC) calls for a more streamlined process for superannuation advice costs to ensure affordable, crucial financial advice for Australians.n