Wed, 19th Mar 2025

In the latest Superannuation News Wrap, ASIC heightens its scrutiny on self-managed superannuation fund auditors, disqualifying four and revoking 11 registrations due to misconduct. This decisive action serves as a warning for those overseeing substantial assets across numerous funds. Globally, a retirement savings crisis looms, with significant percentages of working-age and senior households at risk of post-retirement financial insecurity, according to an Amundi Investment Institute study. Digital tools and improved financial education could help address this issue. Finally, ASIC is prosecuting AustralianSuper in Federal Court over alleged delays in processing death benefit claims, affecting over 6,000 claims and resulting in delayed payments to 752 families. This could spur a nationwide reassessment of superannuation fund procedures and potential regulatory reforms. More updates will follow in the next Superannuation News Wrap.n