Boomer ‘wave’ of outflows starts to hit super
Hannah WoottonReporter
Updated
Australia’s biggest retail superannuation funds are paying out billions more dollars in cash than they are bringing in as the wave of baby boomers reaching retirement age starts to hit the $3.6 trillion sector.
Mercer, Colonial First State, AMP, BT and Insignia had combined net outflows of $10.6 billion in 2022-23, a report by KPMG found.
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correction —
An earlier version of the article said, Mercer, Colonial First State, AMP, BT and Insignia’s cash flows had shrunk by $10.6 billion, but the figure is a sum of their net outflows. It has been corrected.
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