The multi-million hit to industry super fund fees – Money Management

Superannuation funds, and particularly industry funds, could be facing the loss of up to $150 million in fees as a result of members emptying their accounts under the Governments hardship early release superannuation regime.
New analysis conducted by HFS Consulting had also pointed to the degree to which industry superannuation had been disproportionately hit by the early release regime with around 65% of all payments made coming from industry funds, compared to 26.03% for retail funds.
Howeve…

Click here to view the original article.