Tue, 28th Jan 2025

In this episode of the Weekly Superannuation News Wrap, the Association of Superannuation Funds of Australia advocates for the Australian Securities Investments Commission to oversee scam supervision within the superannuation industry, and pleads for reviews of monetary penalties and scam prevention measures. The Financial Services Council expresses concerns over the Your Future, Your Super initiative, noting that the heavy reliance on default superannuation policies can ignore engaged customers who prefer personalized financial guidance. They propose a policy framework that encourages consumer choice. The Australian Prudential Regulation Authority shares insights into profit-sharing arrangements between life insurers and super funds, emphasizing the safeguarding of member interests. Lastly, regulators urge superannuation funds to join forces with industry bodies to manage climate risk, with super fund CEOs prioritizing standardized climate-related risk reporting.