The trustees of big superannuation funds have been warned to prepare for regulators to come after them in court this year if they do not lift their game on customer service and how they use members’ money for administration, advertising and payments to unions.
Key regulators at the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority say pressure on the $4.1 trillion super sector to improve service delivery will go up another notch in 2025.
