CPA Australia audiocast    High fees eat into super fund returns

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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