Wed, 5th Mar 2025

In this week's Superannuation News Wrap, Paige Estritori reports on the significant expansion in life insurance coverage through the Australian superannuation system as outlined in recent research by the Association of Super Funds of Australia - the coverage now covers 8.8 million Australians with life insurance and 8.1 million with total and permanent disability coverage. The discussion also turns to AustralianSuper, the largest industry fund, hit with a penalty of $27 million due to failures in protecting members. Amidst talks of systemic failures, increasing living costs are leading many Australians to delay retirement, with 25% of retirees affected by debt. However, there's an encouraging increase in engagement with financial planning, which is improving retirement confidence. Stay financially savvy with more weekly updates.n