Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 2GB account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 2GB content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 2GB online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

13 worst superannuation funds compelled to fess up to one million customers

Article image for 13 worst superannuation funds compelled to fess up to one million customers

Data from the first annual performance test of Australian superannuation funds has been loaded into the Australian Tax Office’s comparison tool.

Minister for Superannuation, Financial Services and the Digital Economy Senator Jane Hume told Deborah Knight of the 76 funds assessed, there are 13 underperformers holding $50 billion of Australians’ retirement savings.

In addition to being named and shamed by the online tool, the funds will be required to send a letter to their customers, approximately one million of them, informing them of their failure to meet expectations.

“What we’re doing is hauling the performance of super funds out of the shadows, and bringing them into the bright sunlight of accountability.

“Now we’re ensuring that super funds can be compared apples to apples, on the basis of performance and fees, so that people can make a really informed choice.”

Press PLAY below to hear how you can get the most bang for your buck

Image: Getty

2GB Afternoons
Advertisement