Retirement calculators mislead super fund members
Some of the retirement calculators on the websites of the largest super funds are misleading fund members and the Australian Securities and Investments Commission (ASIC) needs to take action.
In 2005, ASIC granted super funds regulatory relief on their calculators. That meant the funds have been allowed to put calculators onto their websites without fear of running foul of the regulator so long as the assumptions are "reasonable".
Read the full story at The Sydney Morning Herald.