Tue, 21st May 2024

In this 'Weekly Superannuation News Wrap,' Paige Estritori discusses the resilience of superannuation funds despite economic turbulence, resulting in an anticipated 8% annual return for FY24. She details the struggles SMEs face with rising super contribution rates, identifying it as a primary regulatory obstacle for around two-thirds of businesses surveyed. On a bright note, the recent Federal Budget includes initiatives such as financial service sector growth programs, green bonds for eco-projects, and superannuation improvements - comprising of an extension of super benefits to Paid Parental Leave recipients. The episode also explores changes to foreign investment laws to cater to international investors and the Financial Services Council's calls for additional reforms. The common goal is to transition to a low carbon future which necessitates the importance of investment.