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The Australian Prudential Regulation Authority (APRA) has today released the results from the inaugural MySuper Product Performance Test.

There are 80 MySuper products.

APRA has assessed 76 MySuper products with at least 5 years of performance history against the objective benchmark.

A total of 13 products failed to meet the objective benchmark.

An APRA Executive Board Member said that APRA remains concerned about those members in products that failed and Trustees of the 13 products that failed the test now face an important choice: they can urgently make the improvements needed to ensure they pass next year’s test or start planning to transfer their members to a fund that can deliver better outcomes for them.

Source : “https://www.apra.gov.au/news-and-publications/apra-releases-inaugural-your-future-your-super-performance-test-results”

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