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Young workers who took advantage of the early release of superannuation have less than $1000 in their nest egg, a new study that details the impact of the scheme shows.
Yet another superannuation fund has pulled its mandate with AMP Capital's Ethical Leaders, transferring management of its Socially Responsible Balanced option to another firm earlier this month.
The $50 billion industry super fund Hostplus is the latest fund to be the subject of a campaign from Market Forces, demanding it divest fossil fuels and develop a climate action plan.
Superannuation funds are making changes to investment portfolios ahead of the Your Future, Your Super legislation which in turn could lead to more volatility and less diversification for members.