Tue, 2nd Jul 2024

In this week's superannuation news, the Association of Superannuation Funds of Australia is urging for tax policy revisions, arguing that current amendments favor foreign investors and leave Australian funds unstable. The Australian Prudential Regulation Authority is increasing demands for super funds' crisis readiness, reflecting the emphasis on improved recovery and stakeholder communication. Stockspot's CEO, Chris Brycki, highlights the performance of index funds which are exceeding actively managed super funds' returns. Meanwhile, smaller super funds face challenges with recently imposed Financial Institutions Supervisory Levies. On a positive note, Australia's largest industry superannuation fund, AustralianSuper, has committed to addressing the housing affordability crisis with its Build-to-Rent-to-Own initiative. These developments highlight the crucial role of super funds in Australia's financial situation and the need for policy support and innovation.n