Proposed super changes anti industry funds

Original article by Glenda Korporaal
The Australian – Page: Online : 5-Jan-21

ACTU assistant secretary Scott Connolly claims the federal government’s Your Future, Your Super legislation will disadvantage the $750 billion industry superannuation fund sector. Connolly notes proposed investment performance comparisons for "low-budget" MySuper accounts only include investment returns and exclude administration fees. He says industry funds typically charger lower administration fees, and Connolly claims the federal government is favouring for-profit super funds under the legislation. The proposed investment performance comparisons in the legislation currently only apply to the low budget MySuper sector, which industry super funds currently dominate.

CORPORATES
ACTU

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