You find yourself in a dud super fund
PUT TO THE TEST
The Australian Prudential Regulation Authority (APRA) conducted its first performance test for MySuper funds last year and created a stir when it failed 13 of the 80 products tested. Under the federal government’s Your Future, Your Super reforms, which came into effect last July, those funds had to write to members to notify them of the failure and provide details of the Tax Office’s super fund comparison tool if they wanted to switch.
The failed funds represented 1 million members with accounts worth a combined $56 billion. They were a mix of industry-type not-for-profit funds and some commercial funds run
