Revised MySuper figures point to industry shake-up

The clock is ticking for Australia’s superannuation providers to prepare an application for a MySuper licence under new rules designed to protect disengaged fund members from paying unnecessary or excessive fees. As of July next year, only products that meet MySuper standards will be able to accept contributions from employees who aren’t actively involved in choosing their super fund. The new regime has widespread implications for the industry, considering that four out of every…