Hundreds of thousands of superannuation customers are losing out, staying in dud funds with high fees, according to the latest data from the industry's regulator.
abc.net.au/news/super-funds-failing-apra-performance-tests/102272096Many superannuation customers are losing out, staying in dud funds with high fees, according to the latest data from the industry's regulator.
The Australian Prudential Regulation Authority has released its latest heat map, covering 163 superannuation "Choice" products that hold $292 billion worth of member funds. "While the data shows some improvement in the performance of Choice accumulation products, the fact remains that there are still far too many products delivering sub-standard investment returns to fund members," APRA deputy chair Margaret Cole said in a statement.
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