Super switching sees billions flow out of traditional funds, at a risk
Australians shifted billions from traditional retail superannuation funds to self-managed super funds, raising regulatory concerns. Over $1 trillion is now in SMSFs, which fall outside the oversight of the Australian Prudential Regulation Authority. Recent collapses of investment schemes like First Guardian have left thousands struggling to recover over $1 billion of their retirement savings.
How does this story land?
Summary by OZbrief Editorial · ABC News – Top stories · Source
Take it further — get the full app and never miss a moment of what's happening in Australia.
This publisher's site can't be shown here due to their security settings.
Open full article →No source link available for this article.
Published 29 Jun 2026, 04:49 UTC · Updated 29 Jun 2026, 05:00 UTC
Summary by OZbrief Editorial. Original report: ABC News – Top stories. Editorial policy · Corrections
Trending
- Breaking: Australian arrested after teenage girl's body found in Thailand
- The abundant but expensive energy source that's under your feet
- Alyssa White resigns as UOW chief governance officer before corruption hearing
- Court returns proceeds of house sale seized from convicted paedophile
- ITV drops in-game adverts for rugby as brands focus on World Cup
- David Hencke, journalist who exposed 'cash for questions' scandal, dies at 79