Super switching sees billions flow out of traditional funds, at a risk
Australians shifted billions from traditional retail superannuation funds to self-managed super funds, raising regulatory concerns. Over $1 trillion is now in SMSFs, which fall outside the oversight of the Australian Prudential Regulation Authority. Recent collapses of investment schemes like First Guardian have left thousands struggling to recover over $1 billion of their retirement savings.
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Summary by OZbrief Editorial · ABC News – Top stories · Source
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Published 29 Jun 2026, 04:49 UTC · Updated 29 Jun 2026, 05:00 UTC
Summary by OZbrief Editorial. Original report: ABC News – Top stories. Editorial policy · Corrections
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