Skip to Main Content
 
Retail’s super duds have creamed billions in profits from their members, performance test confirms image
Media Releases

Retail’s super duds have creamed billions in profits from their members, performance test confirms

Published: 31 Aug 2021

Almost one million Australian workers are trapped in underperforming products that have creamed billions from them in profit, the government’s performance test reveals.

Industry Super Australia’s analysis of the Your Future, Your Super performance test results shows that 27% of retail MySuper members are in underperforming products, more than 860,000 retail members with $30 billion in savings are in dud for-profit products (see table 1).

During the seven-year life of the performance assessment these funds have siphoned off billions in profit from their members to be paid to the parent company, all while they were delivering lousy returns. 

Got a topic you'd like to read about?

Thank you for your topic suggestion.

The message has been sent succesfully, check back soon to find if we wrote about the topic you suggested.

An error has occurred

Due to a technical fault we are unable to to submit your form at the moment. Please try again later.

Additional details:

To learn more about one of the Industry SuperFunds below click on their logo.

I'M READY TO CHOOSE A FUND