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Retail fund managers have lobbied for legislative changes that reduce a differential treatment between industry funds and retail funds. One reform that has been advocated for is the de-regulation of workplace default funds; such as by removing certain funds from being a default payment option under
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highlighted conflicts of interest where retail super funds are owned by banks; including bank advisors recommending a retail super fund to their customers, even where not in the best interest of the prospective member. Following the Royal
Commission, several banks commenced processes to dispose of
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There are various providers of retail super funds in
Australia. Australia's four major banks, historically provided superannuation as a component of wealth management services. In recent years however, some international players have entered the market including
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Not being established in the manner of industry funds, the boards of trustees for retail funds typically do not consist of trade union or employer representatives.
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committed to opening up the default fund section system suggesting that doing so will generate greater competition.
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191:"Insignia Financial fined $ 1.5m for failing to invest members' funds"
243:"How super giant Mercer is hoping to spark a retail fund revival"
218:"What's the difference between industry and retail super funds?"
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Everything you need to know about the royal commission so far
268:"ING Australia full-year profit rises 6pc on new customers"
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20:' refers to a superannuation provider that is not an
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As at July 2018, the major retail super funds were:
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296:"Abbott must prepare for super fund fight"
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156:their wealth management divisions.
351:. You can help Knowledge (XXG) by
347:This finance-related article is a
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403:Superannuation funds in Australia
266:Drummond, Shaun (31 March 2016).
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322:The Age, 22 September 2018,
241:Collett, John (2023-04-11).
166:Industry superannuation fund
22:Industry superannuation fund
196:Australian Financial Review
171:Superannuation in Australia
122:Now defunct funds include:
61:Bendigo Smart Start Super (
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18:Retail superannuation fund
247:The Sydney Morning Herald
73:ING Direct Living Super (
130:) - (Acquired by Mercer)
107:Suncorp Everyday Super (
16:In Australia, the term '
85:National Australia Bank
153:Hayne Royal Commission
147:Hayne royal commission
273:Sydney Morning Herald
91:Colonial First State
126:BT Super For Life (
47:Major retail funds
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151:Testimony at the
141:Abbott government
95:Commonwealth Bank
83:Masterkey Super (
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63:Bendigo Bank
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38:award system
36:Australia's
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392:Categories
306:2022-04-24
252:2023-06-17
227:2023-06-17
203:2023-06-17
177:References
100:OnePath (
300:ABC News
160:See also
102:ANZ Bank
30:Vanguard
280:1 April
135:History
128:Westpac
109:Suncorp
69:Mercer
349:stub
282:2016
81:MLC
56:AMP
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