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Superannuation

'You're not just selling a box of chocolates': Cold callers offering super reviews under investigation

ASIC has launched an investigation into cold callers offering superannuation reviews. Those impacted say they felt pressured to switch superannuation providers. 
A woman sits in a lounge room and stares into the camera.

Calls to crack down on a high-pressure sales model luring people into switching super funds

There are calls to crackdown on a high-pressure sales model luring people into switching superannuation funds. Tonight, three women share their stories.
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ABC News Current
Duration: 8 minutes 6 seconds

analysis:How the ATO went from good cop to bad cop to claw back more than $50 billion in debt

The message is clear: the honeymoon period is now over for businesses that were extended during the COVID-19 pandemic, as the ATO works to recoup more than $50 billion in debt.
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ATO Melbourne office, logo on the wall.

AustralianSuper's ethical option investing in coal, oil and gas industries

Australia's largest super fund is investing money from its "Socially Aware" option in the coal, oil and gas industries, despite excluding shares and corporate bonds of companies with fossil fuel reserves.
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A man stands in a forest on a sunny day, looking into camera with a serious expression.

The ATO is cracking down on former company directors in a blitz some say will send them bankrupt

The ATO has issued tens of thousands of director penalty notices that make people personally liable for debts, and is also more commonly using garnishee notices, which allow it to take money directly from a person's bank account or employer. That's sending more businesses under.
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Andrew Christodoulou  pic 2 by craig andrews

Satellite images show how a whole community has been illegally built. Now bulldozers are moving in

For decades, thousands of people thought they were buying land and built their homes there. But the title holder was always a superannuation company, and now it has brought in the bulldozers. 
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A bulldozer removes a section of building

Without access to childcare, Sarah is one of thousands of mums whose superannuation is taking a hit

Living in a childcare desert has meant Sarah and Jacob Vlatko have had to devise a creative work schedule to care for their toddler, but they're concerned it will have flow-on effects for her superannuation. 
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A woman in a pink jumper reads to a small child.

'This is their hard-earned money': The battle these workers face claiming their super

Pacific Island workers coming home from Australia say it's a long and complicated process to get their superannuation — and the barriers appear to be stopping many from claiming their money.
A woman with a scarf and with sunglasses rested on her head, and a man in a jumper.

'I didn't know where to start': Helen was thrust into a bureaucratic nightmare when her son died without a will

When Quintin Bowen died suddenly in his early 30s without a will, it left a complicated legal mess for his grieving mother that took more than five years to sort out.
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A young man with his arm around his mum. He is wearing a hat a striped polo. She has bright red hair.

Stocks that shot to the Moon, and companies that tanked: Our end of financial year review

Happy financial new year! Look back at the year that was in financial markets; which stocks performed best, what tanked and where analysts are focusing their attention over the coming 12 months. 
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ASX in Sydney

'Totally immoral' weapons found in share holdings of Australian ethical super funds

An ABC investigation into superannuation funds offering members "ethical" or "socially aware" options unearths millions of dollars of retirement savings invested in companies that make some of the most controversial and devastating weapons of war.
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A skyline view of Gaza showing two white phosphorus bombs exploding in the distance.

July 1 brings changes that could save you money. See how they'll impact your wallet

The new financial year will bring a suite of changes for Australians. Here's a breakdown of what's taking effect. 
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A hand holds up blocks that read 01 July. Stacks of paper sit below

'Worked 40 years for nothing': Scammers tricked Lee's super fund and stole 180k

Lee fought the financial ombudsman all the way to the federal court when scammers stole his super. Despite winning he only got some money back and after legal fees he's worse off.
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Scam victim Lee Braz on motorbike.

Why migrants are $140,000 worse off than people born in Australia

The average superannuation balance at retirement for people from non-English speaking backgrounds is about 30 per cent lower than the general population. 
A graphic of a woman with brown hair and a piggy bank against a teal-coloured background.

Without realising it, Marc opened 19 super accounts. He says it has halved his retirement savings

It wasn't until Marc Ypinazar fell in love with his now wife Elle Roberts, and the couple began combining their finances, that he realised his super accounts were in disarray and he was losing money. The ATO says there is $16 billion in unclaimed superannuation.
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Two adults and three kids smile in a selfie

After working all her life and still not having enough super, this 60-year-old nurse decided to chuck it in and hit the road

A study by The Australia Institute finds superannuation tax concessions will only widen the wealth divide for women and low-income earners like Debra.
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A woman with short grey hair in a black top smiles with her little white dog on her lap

'It's been hell': Family relieved as man jailed for stealing girlfriend's superannuation hours after sudden death

Kim Heptinstall died after surgery in 2019, and in the hours afterwards Travis Paul Barnard changed the beneficiary of her superannuation to himself, gaining access to more than $300,000. 
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A man named Travis Barnard stands leaning against a wall in black pants and a brown shirt, typing on his mobile phone.

Which super funds are the biggest investors in fossil fuels? A new report has crunched the numbers

Australia's largest superannuation funds have doubled their investments in high-emitting companies over the past two years, according to environmental finance group Market Forces.
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A graphic of a piggy bank with smoking chimneys with dollar notes in the background

analysis:Vested interest groups putting themselves before Australia is a time-honoured tragedy

Australia is good at producing things, but it has excelled at producing vested interest groups that control key sectors of the economy.
Cascading rooftops in a brand new housing development in Alkimos, Western Australia.

Explosion in people using superannuation savings for dental work

There's been an explosion in withdrawals from superannuation to pay for dental treatment. Controversial rules allow a person to drain their entire super balance for 'compassionate reasons' so long as a doctor certifies that they are in pain or suffering mental distress.
Updated
ABC News Current
Duration: 7 minutes 36 seconds

Australians are draining their superannuation balances to pay for dental treatments at previously unseen levels

Tully Denahy's diseased teeth were ruining his life. So, like thousands of Australians, he emptied his super account to pay for new ones. 
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Man looking in a mirror and smiling.

Budget confirms $1.1 billion spend to add super to paid parental leave

The federal budget measure — slated to begin in July next year — is a $1.1 billion promise over four years to help improve the retirement outcomes for working mothers.  
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A newborn baby peeps over a woman's shoulder.

UniSuper members worried about retirement funds as week-long outage continues

Some of UniSuper's 630,000 members are losing sleep over whether they have lost their money put away for retirement as the superannuation company's outage enters its 7th day.
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A bald man sits at a table in front of a computer

Households choosing food over insurance cover despite financial planners warning of big risks

There is mounting evidence that basic forms of insurance are becoming unaffordable for many Australians as the cost-of-living crisis deepens.
An aerial photo of a new housing estate with empty blocks and several new houses being built.

How does my super compare to others? Here's a breakdown of average super balances by age

Having an idea about the average super balance in Australia for your age can help you take the necessary steps to boost any shortfall. 
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A pink piggy bank sits on a pile of Australian money