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The Grattan Institute says that “maintaining the integrity” of the performance test is vital and that the review should seek to make incremental improvements rather than wholesale reforms.
The performance test for Choice products has been paused, and the Albanese Government has launched a sweeping review into the Your Future, Your Super (YFYS) reforms. So what comes next?
The performance test as it stands isn’t “fit for purpose” when it comes to choice products. And its bright line nature means tweaks are needed for MySuper products too.
A mere 13 funds were dispatched by the first round of the Your Future Your Super (YFYS) performance test. Chant West believes the damage could be worse in the choice sector. Later this year, APRA’s performance test will be brought to bear against the choice sector after a dry run on the smaller universe of…