Yesterday
AusSuper to refund customers as Cbus admits hack
AustralianSuper has vowed to refund members who had $500,000 stolen from their accounts in a cyberattack.
Retirees are trying to change their super. They can’t log in
While market volatility is wiping billions off sharemarkets, super members wanting to check their balances or change investments are being hampered by outages.
This Month
Cybercriminals impersonated super executives in week of mass breach
The attacks occurred in the same week hackers compromised the largest funds and siphoned retirement savings out of member accounts.
Super groups accused of resisting efforts to lift security before hack
A representative of the Association of Superannuation Funds of Australia had told a consumer advocate that stronger protections would put “too high” a burden on funds.
How hackers struck super fund customers while they slept
The cyberattack that has robbed Australians of money from superannuation accounts began with criminals attempting to access accounts in the dead of night.
What you need to know about the massive superannuation cyberattack
Several super funds with millions of members have been subjected to a co-ordinated cyberattack. Here’s what you need to know.
Money taken in co-ordinated cyberattack on big super funds
The nation’s largest superannuation funds were repeatedly warned they were underprepared for cyber threats before criminals hacked into thousands of accounts and stole retirees’ savings
EVP claims StrongRoom founder admitted to fraud, faked accounts
Documents filed by the venture capital firm also allege one of the software start-up’s directors used company money to pay for a holiday to Morocco.
Super funds delaying death payouts also charge the most fees
Analysis from a peak consumer group comes the same day as ASIC released a damning report that revealed the ‘sad situation’ for the families of dead members.
March
ASIC reads big super the riot act on death insurance, savings payouts
A review of how funds process insurance and savings payments to the families of dead members found excessive delays and serious customer service failings.
Super’s global push is threatening the Aussie dollar
The country’s largest funds are investing about $5.4 billion overseas every three months, according to Deutsche Bank, potentially driving the Aussie dollar lower.
Super funds ‘stomach the volatility’ until equities rebound
Hostplus CIO Sam Sicilia is preparing for a sharp bounce in equity markets, while AustralianSuper’s Mark Delaney hasn’t touched his portfolio.
14 venture capitalists unpack the year ahead
More than a dozen of the country’s biggest tech investors say floats will return, there’s no AI bubble, and Donald Trump may be good news for local firms.
Wellness app Sonder secures $40m from Blackbird, Seek and Hostplus
The start-up said the round had left it with a “material uplift” on a $150 million valuation secured last year. It will use the money to expand overseas.
Who are the super directors facing APRA’s tenure limit?
There will scarcely be a board of a major industry super fund untouched if the prudential regulator comes after these lucrative patronages.
Why super fund investment calls are about more than next quarter’s returns
What’s at the heart of a super fund’s investment strategy? Capital allocation. And the better it allocates that capital, the better for all of us.
February
Chalmers and super chiefs talk tariffs with Bessent in Washington
Jim Chalmers sat alone in the front row and listened attentively as his US contemporary clarified an important point about Donald Trump’s favourite word.
Big super’s grasp on ASX leads ASIC to fear private markets contagion
A new report by the corporate regulator says the major pension funds control about a quarter of ASX-listed securities, even as they charge into unlisted assets.
Packer leads push to sell Australian super to the US
James Packer will play a leading role in a push by the $2.8 trillion superannuation sector to sell the success of the Australian pension savings system to the US.
Gold Coast rocket company gets green light for first launch
After a two-year battle with the regulator, Gilmour Space has been granted approval to launch its Australian-made rocket to compete with SpaceX.