Rod Myer

Superannuation continued to grow strongly in the March quarter with APRA figures showing overall funds in the system up a strong 11.3 per cent to $3.85 trillion compared to a year earlier.

As the calendar rolls on with relentless certainty we have now moved into financial year 2024-25 and that will have a significant effect on superannuation.

Choosing a superannuation fund is likely one of the most important financial decisions you will ever make, but for many it is not one they think about much.

Australian superannuation fund members have scored another year of strong returns with SuperRatings reporting the median balanced option (60 to 76 per cent growth assets) returning 8.8 per cent for the June year.

Stock exchange fear has hit the headlines in recent days, with scary reports highlighting market losses of “$100 billion” churning stomachs around the world.

The Albanese government has committed itself to double the tax on superannuation balances of $3 million plus from July 2025 and the Association of

Superannuation fund members have seen their holdings bounce back from the stockmarket hits at the beginning of the month, with Chant West reporting median growth fund valuations now 1.4 per cent higher than at June 30.

Back in the shocking days at the beginning of the Covid-19 crisis the federal government moved quickly to enable cash-strapped Australians to pay for the basic necessities of life.

Close scrutiny of superannuation funds by APRA is paying dividends, with the regulator's latest performance test revealing significant improvements for members.

Australia's superannuation industry is growing on the world stage, with 17 of the country's not-for-profit super funds now in the top 300 globally.