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The Latest Breaking News from AustralianSuper

Multiple warnings and huge fines are not stopping super funds, insurers and banks overcharging customers

Last week the Federal Court fined Australia’s biggest superannuation company, AustralianSuper, A$27 million for overcharging customers.

The Conversation

Australia's biggest super fund hit with massive fine

A federal court judge has fined AustralianSuper $27 million after it admitted to contravening the superannuation act over member's duplicate accounts.

AAP

State-backed loans to go to firms importing critical minerals into UK

Rachel Reeves to encourage import of raw materials from Commonwealth countries to counter China’s grip on market

The Guardian - UK

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Australia’s largest super fund joins protest vote against Woodside’s climate plans

AustralianSuper says it has ‘ongoing concerns’ about how the country’s biggest oil and gas company will reach net zero emissions by 2050

The Guardian - AU

Printworks London may reopen by 2026 after developers submit plans

British Land and AustraliaSuper want to create cultural venue that will include offices and shops

The Guardian - UK

Vote over Origin Energy $20bn takeover bid delayed until next month as revised offer on table

Energy company says vote will be on 4 December so shareholders can consider offer from Brookfield and EIG

The Guardian - AU

Afternoon Update: Adelaide family tell of ‘nerve-racking’ Gaza escape; cricketers ridicule ‘Bazball’ dictionary inclusion; and sign up for a blind date

The family are among 20 Australians who have managed to escape Gaza via the Rafah crossing

The Guardian - AU

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Origin Energy $16b acquisition on the rocks

Brookfield and EIG Partners have made a "best and final" offer for Origin Energy but major stakeholder AustralianSuper remains opposed.

AAP

Are bigger super funds better? Actually no, despite what the industry is doing

Australia’s superannuation funds are getting bigger – and fewer. There were close to 400 funds in 2010. With mergers, it’s now closer to 120. By 2025, according to industry executives surveyed last year, there will be fewer than 50.

The Conversation

AustralianSuper's 'alarming' $70m double-up on customer accounts sparks calls for wider investigation

Australia's biggest superannuation fund reveals that it has been double charging some customers, and will refund around $70 million in fees and insurance costs to about 100,000 people.

ABC News

Financial clout in the superannuation sector is changing

The superannuation world is splitting in two with big industry super funds increasingly dominating in terms of asset base

The New Daily

Ask the Expert: What you can do with your super – and when you can do it

Whether you want to add to your super or use it to invest, it pays to know what restrictions are in place before you start.

The New Daily

British Land plans large life sciences hub at Canada Water scheme

British Land and AustralianSuper, its joint venture partner on the Canada Water masterplan, have appointed architect Stanton Williams to draw up latest proposals

Evening Standard

Australian super funds are among the largest in the world

Australia is punching well above its weight in the superannuation space with 15 Australian super funds listed in the top 300 globally

The New Daily

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The Guardian - AU

‘Socially aware’ superannuation funds among those investing billions in gambling industry

Analysis reveals Australia’s biggest superannuation funds are investing huge volume of workers’ retirement savings in casinos and poker machines

The Guardian - AU

Albanese government urged to adopt windfall profits tax after LNG exporters’ $40bn bonanza

Australia Institute says the tax would be a responsible way for Australians to receive a fair return for exploitation of gas resources

AAP

Super funds mix oil and gas with net zero

Climate-savvy superannuation savers have been warned some funds are building their stakes in Australia's biggest oil and gas companies while going "net zero".

The Guardian - AU

Australia’s biggest superannuation fund commits to divesting Russian assets

Move by AustralianSuper, which has Russian holdings worth $175m-$180m, follows calls by treasurer for funds to ditch investments

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The Guardian - AU

AustralianSuper’s $300m of Russian investments plunge as sanctions bite

Australia’s biggest super fund yet to decide if it will join investors dumping Russian shares following Ukraine invasion

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