31 August 2022 - APRA releases 2022 MySuper performance test results
Five products failed to meet the benchmark this year, including four that failed for the second time. A further five products that failed last year’s performance test passed this year.
APRA Member Margaret Cole said the overall results highlighted the improved outcomes that have been achieved for superannuation members over the last 12 months.
“Pleasingly, almost 96 per cent of MySuper superannuation members are now in a performing MySuper product, equating to 13.1 million member accounts.
“Equally positive is that the performance test has contributed to over 5.1 million MySuper members (just over 38 per cent) now paying lower fees than they were last year.
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