AUSTRALIA - The median Australian superannuation fund finished the year with a 15.1% return, but has yet to recover from the losses suffered during the global financial crisis.
Consultant Chant West said the median growth fund needs to gain a further 13.1% to return to pre-crisis levels.
Growth funds invest between 61% and 80% in growth assets and are the default option for most superannuation funds.
Chant West principal Warren Chant said there was a large disparity between the best performing and worst performing growth fund. Returns ranged from 2.9% for the year to 24.2%.
He said: "To a large extent, that reflects the way funds reacted towards the end of the 16 months of market decline from the end of October 2007 to the end of February 2009. Those that took the opportunity to re-allocate money to the worst hit sectors - mainly shares but also corporate debt and property - were effectively buying securities at ‘bargain' prices and so reaped the rewards when markets recovered, while those that were more cautious missed out."
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.