“Complacent” Australian super funds face mergers
As many as two-thirds of not-for-profit superannuation funds in Australia may lack the scale to survive a proposed overhaul of the system. But some in the industry question the plan.
Questions have been raised about Australian government proposals that could force underperforming superannuation funds to merge or exit the system. The changes would likely mean savings for members but result in the closure of numerous sub-scale funds, noted consultants.
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