Labor signals review of superannuation fund performance tests

Labor has signalled it could overhaul the Coalition’s superannuation fund performance benchmarking, telling the sector it was open-minded about changes and was preparing to announce a review as early as this week.

Two industry sources told The Australian Financial Review that among possible changes canvassed would be a shift from a strict performance benchmark. The existing test introduced by the Coalition in 2021 has been criticised for encouraging short-term investing and benchmark hugging.