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Super funds spending without any clear benefit for members: APRA

Lucas Baird

The country’s biggest superannuation funds are risking the savings of millions of customers by spending their money in ways that do not have a clear benefit for retirees, the financial services regulator has warned.

The Australian Prudential Regulation Authority, in a letter to the sector, said super funds had “suboptimal” expense policies and displayed a “lack of rigour” when deciding to spend on sports sponsorships, travel, conferences and other payments to affiliated unions or employer groups.

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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/super-funds-spending-without-any-clear-benefit-for-members-apra-20250623-p5m9i2