Original article by Joanna Mather
The Australian Financial Review – Page: 3 : 9-Oct-19
Data from Rainmaker shows that the superannuation industry’s fees fell by about four per cent in 2018-19, to $31.8bn. It was the first decline in fees since 2014, with retail super funds recording the biggest fall. Rainmaker notes that as a result, the traditional fee gap between retail and industry super funds has narrowed to almost zero. This is particularly so in the case of MySuper funds; the average fee for non-profit MySuper products is now 1.15 per cent, compared with an average of 1.17 per cent for retail MySuper products.
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