Media releases

  • Fraser Review: Member-first ethos central to success of not-for-profit super funds

    Posted: Thursday 16 February, 2017

    Former Reserve Bank Governor and Treasury Secretary, Bernie Fraser, has delivered his report into not-for-profit super fund governance, finding their processes and member-first ethos are central to their outperformance and avoidance of scandals affecting other parts of the finance sector. Mr Fraser’s review, commissioned in late 2015, has also found the Government has not adequately made the case ...

    Read More

  • No logic to changing industry super funds following latest performance data

    Posted: Thursday 02 February, 2017

    New performance figures call into question bank lobbying efforts to dismantle the successful not-for-profit industry super fund governance model, says Industry Super Australia. At the fund level, comparisons between industry super and retail and bank-owned funds reveal a stark performance contrast. ISA analysis of annual APRA data show that over the ten years to 30 June 2016, industry super funds ...

    Read More

  • Unpaid super costing workers tens of thousands, new research finds

    Posted: Wednesday 25 January, 2017

    Workers on the cusp of retirement who are short changed on their superannuation entitlements have nest eggs that are tens of thousands of dollars less than those who are paid correctly, new research reveals. Conducted by Industry Super Australia, the research comes ahead of the first hearing of a Senate inquiry into unpaid Superannuation Guarantee (SG) in Melbourne on Wednesday. Using the latest A...

    Read More

  • Super lobby & tax office to appear at first unpaid superannuation hearing this week

    Posted: Tuesday 24 January, 2017

    Industry Super Australia which, late last year, revealed that one third of workers are missing out on their entitlements will appear at the first Senate committee hearing into unpaid superannuation this Wednesday. The Australian Tax Office, which has responsibility for SG compliance and has extensive data not in the public domain, is also appearing. Employers are legally required to contribute 9.5...

    Read More

  • Industry super funds win on performance, new figures show

    Posted: Friday 20 January, 2017

    Industry super funds have maintained their stellar record, continuing to outperform retail bank funds by an impressive 2.74 per cent on average in 2016, new independent ratings figures reveal. According to the December SuperRatings numbers released overnight, industry super funds in the SR 50Balanced Option have consistently outperformed bank-owned retail super funds through the decade – by 2.07 p...

    Read More

  • First pension payments under new assets test due

    Posted: Thursday 19 January, 2017

    Older Australians will understand what the Government’s pension changes actually mean for them, with the first payments under the new assets test due from this week. These payments will cover the period from 31 December 2016 to 13 January 2017. On January 1, the Age Pension assets test limit dropped to $542,500 (from $793,750) for singles, and $816,000 (from approximately $1.1 million) for couples...

    Read More

  • Industry super fund members’ super balances accelerate even further ahead

    Posted: Wednesday 21 December, 2016

    Industry super funds are inching even further ahead in delivering superior investment returns to their members over the short, medium and long term compared to bank-owned funds, new data reveals today. According to independent agency, SuperRatings, industry super funds have out-performed bank-owned retail funds by 2.33 per cent on average over ten years. This time last year, that ten-year figure w...

    Read More

  • Industry Super Australia and Cbus Super welcome Black Economy Taskforce

    Posted: Thursday 15 December, 2016

    Industry Super Australia and Cbus Super have welcomed the Turnbull Government’s appointment of a Black Economy Taskforce chaired by Michael Andrew AO, noting that non-compliance with the 9.5 per cent Superannuation Guarantee (SG) in the cash economy remains a significant and growing problem. Recent modelling by Tria Investment Partners for Cbus Super found that workers in the cash economy lost an ...

    Read More

  • Pensioners warned to watch for looming New Year pension cuts

    Posted: Wednesday 14 December, 2016

    Around 325,000 pensioners are in for a shock when harsh pension cuts, announced 18 months ago, take effect from 1 January 2017.  The cuts will see the Age Pension taper rate double to $3 per fortnight and the upper thresholds of the assets test plummet to $542,500 (from $793,750) for singles, and $816,000 (from $1.1 million) for couples. These new limits are tighter than those first announced.  Th...

    Read More

  • Fall in national accounts linked to poor public infrastructure investment, says Industry Super

    Posted: Wednesday 07 December, 2016

    The lack of public infrastructure investment by many State governments is behind today’s disappointing September quarter growth figures, say Industry Super Australia. Australian Bureau of Statistics figures show public capital expenditure declined by 0.5 percentage points from elevated levels in the June quarter.  Output in the construction industry fell 3.6 per cent for the quarter, the largest c...

    Read More