The Association of Superannuation Funds of Australia (ASFA) has relaunched its consumer website SuperGuru.
The website, originally launched in 2010 with the support of the Victorian Government, is similar to the financial literacy website MoneySmart, but focuses solely on superannuation.
The calculators on the SuperGuru website were developed by Rice Warner Actuaries, and the online learning modules were created by finance and communication specialist Money101.
ASFA chief executive Pauline Vamos said the website was completely independent and sought to guide Australians through the superannuation system.
"With research showing Australians are failing to save enough to fund the lifestyle they desire in retirement, there is a real need to provide super fund members with the information they need to ensure they can start improving their retirement futures as early as possible," said Vamos.
SuperGuru also caters to Australians in different stages of their lives, and contains information about key life events and how they can affect superannuation.
Australia’s superannuation sector is being held back by overlapping and outdated regulation, ASFA says, with compliance costs almost doubling in seven years – a drain on member returns and the economy alike.
Two of Australia’s largest industry super funds have thrown their support behind an ASIC review into how stamp duty is disclosed in investment fee reporting, saying it could unlock more capital for housing projects.
The corporate watchdog is preparing to publish a progress report on private credit this September, following a comprehensive review of the rapidly expanding market.
The fund has appointed Fotine Kotsilas as its new chief risk officer, continuing a series of executive changes aimed at driving growth, but NGS Super’s CEO has assured the fund won’t pursue growth for growth’s sake.