Australia’s super industry struggles to consolidate

A damning report on the inefficiencies created by many small Australian superannuation funds has put the industry into a period of reflection this year. The Productivity Commission, a state body, published the report in March but, as the government is discovering, rationalising sub-scale players is not an easy task. In all likelihood, the Australian Prudential Regulation Authority (Apra) will have to offer several regulatory sticks and carrots to make headway, argued experts.   …