Media releases

  • New performance data highlights chronic underperformance of bank-owned Super

    Posted: Monday 24 April, 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. “While the banks chase profit at members’...

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  • Industry Super Australia welcomes Labor’s affordable housing proposal

    Posted: Friday 21 April, 2017

    Industry Super Australia (ISA) welcomes the proposal announced today by the Federal Labor Party on tackling housing affordability. The policy proposes a ban on non-recourse borrowing arrangements in Self-Managed Super Funds (SMSF) as well as support for implementing a bond-aggregator model which could unlock substantial investment opportunities for superannuation funds in affordable housing. The p...

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  • Banks to continue cross-selling super to Australians

    Posted: Wednesday 19 April, 2017

    The Sedgwick Review released today does nothing to stop banks continuing to cross-sell their underperforming super funds to the public.  Although the review rightly addresses some of the unconscionable conflicted remuneration practices seen within the banking sector that have driven numerous ‘bank scandals’, it fails to address remuneration practices that are used to cross-sell superannuation prod...

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  • Role for super to increase affordable housing supply - not add to demand

    Posted: Monday 10 April, 2017

    Industry Super Australia (ISA) welcomes policy suggestions by the Federal Government that would increase opportunities for super fund investment to expand affordable housing stock, but pumping up demand by allowing first home-buyers to tap into their super would be short-sighted and counterproductive. Treasurer Scott Morrison outlined in his speech to the Australian Housing and Urban Research Inst...

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  • Call for submissions on second Insurance in Superannuation Working Group (ISWG) discussion paper

    Posted: Friday 07 April, 2017

    The Insurance in Superannuation Working Group (ISWG) today released the second in a series of discussion papers as a further step towards developing a Life Insurance Code of Practice for superannuation trustees. The paper, Claims Handling, examines existing practices and issues associated with insurance claims handling and outlines some ambitious changes in timeframes developed by superannuation a...

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  • Untested super proposals focused on wrong target

    Posted: Wednesday 29 March, 2017

    The Productivity Commission is proposing untested changes to superannuation that could over time undermine the best-performing parts of the system while failing to address the cost and poor performance of retail funds. In a draft report released today the Commission suggests abandoning essential features of Australia’s world-class workplace default system in favour of four models with features plu...

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  • New research shows successful industry super fund model is delivering more to members

    Posted: Tuesday 21 March, 2017

    Industry super funds have maintained their leading outperformance of bank-owned retail funds by more than 2 per cent, new independent ratings figures reveal. According to the February SuperRatings numbers released overnight, industry super funds in the SR 50Balanced Option have consistently outperformed bank-owned retail super funds through the decade – by 2.02 per cent over three years; 2.16 per ...

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  • Government’s rush to defend bank lobbying efforts shows lack of balance

    Posted: Tuesday 21 March, 2017

    Industry Super Australia (ISA) expressed surprise at the tone and substance of the Government’s commentary on a new ISA advertising campaign which blows the whistle on the banks’ efforts to tilt the superannuation rules in their favour. Yesterday the Government seemed to rush to the defence of the banks by criticising the campaign and even recycling language routinely used by bank lobbyists includ...

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  • Keep bank ‘foxes’ out of the super henhouse, new campaign warns

    Posted: Monday 20 March, 2017

    A powerful new campaign warns industry super members and consumers of bank attempts to dismantle the model used by the most successful part of the superannuation system, and put at risk the retirement savings of millions of Australians. At the centre of the Industry Super Australia campaign is a 30-second television segment which depicts the hand of a federal politician opening a hen house to wait...

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  • Early access to super for housing proposal still ‘bad policy’

    Posted: Wednesday 15 March, 2017

    Industry Super Australia has again slammed as ‘bad policy’ suggestions that young people access their superannuation to buy their first home. New media reports today suggest the proposal continues to have traction within government ranks in the lead up to the Federal budget. Chief economist Stephen Anthony said: “In the housing affordability debate, the focus should be on land release, regulation ...

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