Wed, 4th Jun 2025

In this week's Superannuation News Wrap, key stories include a pressing need for accessible financial advice, with 82% of the public demanding government reforms and more transparent pricing. QSuper has agreed to a $67 million settlement over a class action lawsuit for excessive life insurance premiums, pushing for transparency in superannuation fee structures. Australian Securities and Investments Commission research reveals half of millennials lack understanding of superannuation, prompting the ‘How Super Works campaign to increase their knowledge, especially with the superannuation guarantees rising to 12% starting July. A trend of Australians in their 50s to 70s entering new relationships underpins the importance of clear financial discussions. Lastly, a class action lawsuit against AMP Limited over allegations of excessive superannuation fees charged between 2008 and 2020 is expected to lead to a seven-week trial examining further misconduct.n