Colonial First State, Care Super and First Super are among superannuation funds that have a growing number of customers taking money out for their retirement, as the growth in the number of workers pumping savings in is shrinking.
New data from KPMG revealed that 20 of the country’s 58 main super providers are in this position, with more likely to join them as 3.6 million Baby Boomers leave the workforce in the next decade and tip the industry past the point that more money is going out than is coming in via contributions.
