Treasury

It’s a good thing the superannuation industry hasn’t received “chapter and verse” from the government on its affordable housing plan. But details around performance still need to be worked out.

One number will never tell the whole story, and a new and improved performance test could comprise as many as nine metrics, according to Chant West. This time around, Treasury is actually listening.

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…

In the aftermath of Your Future Your Super (YFYS), members of dud funds still aren’t moving their super. And it’s not clear what the government and regulators can do about it. It sometimes seems that so much time was spent on implementing the contentious YFYS reforms that the question of what would happen to members…

The Morrison Government has so-called “$12 trustees” in its crosshairs after they amended trust deeds to levy members for potential penalties. But APRA believes funds might collapse without them. The Morrison Government’s amendment to Section 56 of the SIS Act was intended to prevent super funds from paying penalties using member money, but – as…

Despite APRA’s move to name and shame 13 underperforming funds, it’s clear that Your Future Your Super (YFYS) is a work in progress. More needs to be done to make it a true and fair test. Call them the Dirty (Baker’s) Dozen: 13 funds named and publicly shamed for their failure of the YFYS performance…