New research commissioned by the Australian Institute of Superannuation Trustees suggests that MySuper is a better bet for super fund members than making an advised choice.
Most financial planning groups may have signed up with the new Australian Financial Complaints Authority, but superannuation funds appear to be dragging their feet.
The Royal Commission has pointed to flaws and inconsistencies in the regulatory environment around life insurance, including that there is no penalty capable of being imposed on insurers which fail to act in utmost good faith.
Royal Commission questions regulatory capability of both the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority where superannuation is concerned.
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