Media releases

  • New figures show industry super funds continue to outperform bank-owned super funds. Is anyone asking why?

    Posted: Wednesday 21 June, 2017

    With new figures showing - once again - that not-for-profit industry super funds continue to outperform bank-owned funds, policy makers should start demanding answers, says Industry Super Australia (ISA).  According to the independent SuperRatings agency, for the decade ending 31 May 2017, industry super funds in the SR 50Balanced Option have outperformed bank-owned super funds on average by two p...

    Read More

  • Domestic violence should be a condition to access super early, says industry lobby

    Posted: Monday 19 June, 2017

    Industry Super Australia is supporting a call to include family violence as a condition for early access to superannuation. The proposal, from health employee super fund HESTA, recommends that family violence and financial abuse be added to Superannuation Industry Supervision Regulations (1994) as compassionate grounds. This would then allow superannuation savings to be used to pay for goods or se...

    Read More

  • Industry super funds see opportunity in Australian agriculture, new paper reveals

    Posted: Wednesday 14 June, 2017

    With the right expertise and policy settings, industry superannuation funds could be enticed to substantially increase their $1.6 billion stake in Australian agriculture, a new report suggests. The Industry Super Australia (ISA) discussion paper, launched today, responds to calls for the $2 trillion superannuation sector to invest in local agriculture and, in so doing, support regional development...

    Read More

  • Banks bamboozling consumers with 'choice' overload in super, new report finds

    Posted: Tuesday 06 June, 2017

    When it comes to investment choice in superannuation, less is best, a new report has found. Options to Lose – how sales became choice, an Industry Super Australia (ISA) analysis of official ten-year APRA data, shows the best performing superannuation funds have a main default investment option and a small number of other investment options. In contrast, the worst performing funds are public-offer,...

    Read More

  • Tax Commissioner’s calls to better align super payments with wages, welcome

    Posted: Tuesday 30 May, 2017

    Industry Super Australia has welcomed Tax Office Commissioner Chris Jordan’s call for superannuation payment timing to better align with wages and salary. Appearing at a Senate Estimates hearing in Canberra this morning, Commissioner Jordan said that Single Touch Payroll technology would support a policy of paying superannuation monthly rather than quarterly as currently stipulated under the law. ...

    Read More

  • Banks rake in $8.7 billion in super fees in 2016

    Posted: Monday 29 May, 2017

    The major banks raked in nearly $9 billion in fees from Australian workers’ super nest eggs in 2016, new research by Rainmaker Information reveals.  In return, the bank-owned super funds delivered returns of 2 per cent less per annum when compared to industry super funds over 10 years[1]. For an average income earner, this under-performance, if continued, could cost $200,000 in retirement savings ...

    Read More

  • Above-median returns on bank-owned super funds highly unlikely - new findings

    Posted: Thursday 25 May, 2017

    The chances of an above-median return on your for-profit retail superannuation fund are very slim, new analysis reveals. An Industry Super Australia (ISA) analysis of ten year APRA performance data shows an extraordinary 97 per cent of member accounts in bank-owned public offer super funds have below median returns. Furthermore the analysis shows three quarters of all public offer bank-owned super...

    Read More

  • Bank-owned super underperformance must be investigated

    Posted: Monday 22 May, 2017

    Independent data measuring the performance of Australia’s superannuation funds shows not-for-profit industry super funds continue to outperform “for profit” bank-owned funds in the short, medium and long term. The latest SuperRatings monthly data shows, on average, industry super funds have outperformed bank-owned super funds by more than 2% over 10 years. “The habitual underperformance by bank-ow...

    Read More

  • First home saver plan thin end of the wedge for super savings

    Posted: Thursday 11 May, 2017

    Industry Super Australia expressed serious concern over the government’s proposal to allow younger Australians to save for a housing deposit through their super fund. "The proposal is deeply flawed and the thin end of the wedge for super savings - threatening workers’ future retirement", said chief executive David Whiteley. "The plan is contrary to the sole purpose test for superannuation by allow...

    Read More

  • The Silence of the Banks…on unpaid super

    Posted: Friday 05 May, 2017

    Despite a tsunami of media coverage and an outpouring of community concern culminating in a parliamentary inquiry, Australia’s major banks and their superannuation funds have maintained a chilling silence on the issue of unpaid superannuation, according to Industry Super Australia. In submissions to the recently concluded Senate inquiry into unpaid super, the Financial Services Council, which repr...

    Read More