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AusSuper staff knew of illegal $69m overcharge, court judgment reveals

Lucas Baird

AustralianSuper workers knew the fund had broken laws that required it to merge duplicate accounts years before the $365 billion retirement savings behemoth eventually resolved the issue and dobbed itself in to regulators.

AustralianSuper chief Paul Schroder: “We found this mistake, we reported it, we apologised to impacted members, we compensated them, and we’ve improved our processes to prevent this happening again.” Peter Rae

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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/aussuper-staff-knew-of-illegal-69m-overcharge-court-judgment-reveals-20250220-p5ldw0