Australia’s super industry urged to pursue consolidation
Amid the industry-wide criticisms being levelled at the Australian superannuation industry are claims that both funds and super players need to merge together. It won't be easy.
Australia's financial regulators are cracking down hard on governance issues in the country's superannuaction industry. But industry service providers believe they should do more to encourage mergers between underperforming or sub-scale superannuation funds.
In addition, they argue that the country's political parties should put individuals' retirement needs rather than their goals first, if they are to regain the trust of the country's super members.
Several industry particip…
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