Tue, 8th Jul 2025

In this episode of the Weekly Superannuation News Wrap, we discussed a significant lawsuit against AMP, alleging excessive charges on superannuation fund members over five years, a situation that could escalate regulatory scrutiny and impact trustee obligations. We also navigated legislative uncertainty due to proposed Division 296 changes introducing a 15% tax on superannuation earnings over $3 million, which could potentially unsettle financial advisors. The episode highlights ASIC's investigation into superannuation trustees over potential investor deception, along with the challenges facing super funds to retain members amidst conflicts of interest and inefficient fee structures. We capped off with a look into improved worker conditions as we proceed into the new financial year marked by a minimum wage hike, boosted superannuation contributions, and proposals to protect penalty rates and enhance gynaecological services.n