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Superannuation fees and underperforming funds in the spotlight as Federal Government looks to protect nest eggs – ABC News
Changes announced by the Federal Government intended to punish underperforming super funds may have unintended negative consequences that could leave members worse…
With less than a third of the super he should have at his age, Craig Johnson, 54, doesn’t think he’ll be in a position to retire anytime soon and he blames his super fund.
Key points:
- Underperforming super funds will have to inform members they are not meeting benchmarks
- Critics say the reforms could create “real risks” as it’s unclear what an underperforming fund might do next
- Struggling funds would not be able to sign up new members until problems were fixed
Despite being in the workforce for almost…
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