Thu, 8th May 2025

In this episode of Financial Services Online's Superannuation News Wrap, Paige Estritori discusses the APRA levy's 147% surge over the past decade, revealing its increasing burden on smaller superannuation funds while larger funds get cost reductions. The Association of Superannuation Funds of Australia and accounting bodies call for more transparency and a fairer levy structure to sustain market competition. Notable personnel changes include Aware Super scouting internationally for a new Chief Investment Officer after Damian Graham's profitable tenure and Cbus confirming Leigh Gavin as their new CIO, who plans to continue internalizing investment management. Lastly, DOD Bookkeeping receives an $11 million penalty for breaching remuneration rules, confirming that industry shortcuts can lead to stiff penalties.n