POWERED BY MOMENTUM MEDIA
Support grows for MyPension product
There is growing support within the superannuation industry for the implementation of a default post-retirement product.
A survey conducted by Super Review at last November's Association of Superannuation Funds of Australia (ASFA) Conference in Brisbane has revealed rising levels of support for a so-called "MyPension" product would be mandated in similar terms to MySuper.
Delegates to the ASFA Conference were asked whether, given the increased focus on post-retirement, they believed the Government should move for the development of a default MyPension product to be offered by each fund.
Nearly 65 per cent of respondents supported the development of such a "MyPension" product with just 32.4 per cent opposing such a move.
The result compares to responses to the same question posed in a survey conducted during the Conference of Major Superannuation Funds seven months earlier which revealed a little less than 59 per cent of respondents as being in favour of adopting a "MyPension" product with a full 40 per cent opposed to such a move.
Recommended for you
Treasurer Jim Chalmers has hit back at critics of the Division 296 super tax changes, saying it shows commentators’ aversion to substantive tax reform.
Australia’s superannuation funds are on track to post another year of strong performance, with the median growth fund returning an estimated 9 per cent for the 2025 financial year, according to research from Chant West.
The UK aims to boost investments via Australia’s super fund sector, unlocking major bilateral business and growth opportunities.
The Future Fund has received government approval to internally manage transactions in Australian infrastructure and property, marking a significant shift in its investment approach after nearly two decades of relying solely on external managers.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
