Is there anyone who actively monitors superannuation funds?
YourLifeChoices member Greg would like to know if there is anyone who actively monitors superannuation funds.
I am interested in knowing if there are any lobby groups (particularly in South Australia) which actively monitor superannuation funds on matters such as full disclosure, transparency about fund manager’s payments, etc.
There's no real consumer advocacy group dedicated to superannuation. The closest would probably be the Australian Shareholders Association. You can find out more about the ASA by visiting www.australianshareholders.com.au.
If it's a complaint you wish to make, you should contact the Association of Superannuation Funds of Australia (ASFA) and you can do this via its website, www.superannuation.asn.au. And if you have no joy with ASFA, you can elevate the complaint to the Superannuation Complaints Tribunal.
Jenni Mack, Chair of Choice Board of Directors, is trying to get a consumer group up and running, but is finding it difficult to secure funding. You may wish to contact Choice to discuss this further – www.choice.com.au