Tue, 4th Jun 2024

In this week's edition of the Weekly Superannuation News Wrap, Paige Estritori discusses recent trends in the Australia's superannuation sector. Key highlights include a rise in transfers from industry superannuation funds to self-managed super funds (SMSFs) with outflows doubling since the start of 2022, thanks to improving performance of retail funds. Despite the shift, industry funds still dominate, controlling 34.9% of the market. Industry funds' pension payouts have also nearly doubled from early 2020, prompting concern. The episode also delves into the Investment Trends 2024 Super Member Engagement Report, indicating increased member engagement, especially among those with higher balances. This points to a growing focus on retirement planning among Australians.