I think PK is dead right here. People in society as a rule, save inefficiently for their retirement. An increase in the amount of money put towards super is definitely required. However, superfunds charge ridiculuous fees ongoing and to leave the fund. This needs to be monitored and fixed so that the funds are interested in growing the pie not eating the whole damn thing. My superfund that I contributed to 8 years ago has eaten any growth in the 8 grand I left them with over that period of time. Meanwhile I have invested on my own and had a better return. I would appreciate lower fees from these poorly over seen super funds.
