High fees eat into super fund returns
Australian superannuation fund members are hit with some of the highest charges in the world.
Super funds collect a hefty A$30 billion a year in fees, and cross-country comparisons show that Australian retail funds, operated by banks and other finance companies, are particularly pricey.
The Productivity Commission estimates savings of A$1.8 billion a year if the 50 highest-cost funds merged with 10 of the most efficient funds.
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