POWERED BY MOMENTUM MEDIA
Admin costs $1.13 a week
Thhe increasing complexity of government regulation and a range of other factors have served to drive up the cost of delivering administration to major superannuation funds, according to the chief executive of Australian Administration Services (AAS) Stuart Korchinski.
Korchinski told the Conference of Major Superannuation Funds that the non-investment cost per member had risen from $0.66 a week in 1999 to now stand at $1.13 — something that was likely to ultimately impact on the value proposition of industry superannuation funds.
He said that in these circumstances administration companies and superannuation funds would need to deliver a stronger suite of services to members, including the provision of integrated financial advice.
Korchinski said that research undertaken by AAS suggested that superannuation fund members were looking for a full range of services and would seek them elsewhere if they were not provided.
AUTHOR
Mike Taylor
Recommended for you
Following the roundtable, the Treasurer said the government plans to review the superannuation performance test, stressing that the review does not signal its abolition.
The Australian Prudential Regulation Authority (APRA) has placed superannuation front and centre in its 2025-26 corporate plan, signalling a period of intensified scrutiny over fund expenditure, governance and member outcomes.
Australian Retirement Trust (ART) has become a substantial shareholder in Tabcorp, taking a stake of just over 5 per cent in the gaming and wagering company.
AustralianSuper CEO Paul Schroder has said the fund will stay globally diversified but could tip more money into Australia if governments speed up decisions and provide clearer, long-term settings – warning any mandated local investment quota would be “a disaster”.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
74.26 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
