Money magazine Comments - AustralianSuper fined $27 million for 'betraying members' More than 42,000 beneficiaries were affected when AustralianSuper failed to promptly identify and merge members' multiple accounts from 2019 to 2023. https://www.moneymag.com.au/feed/latest?story=179807636 Sat, 22 Feb 2025 10:01:42 +1100 Sat, 22 Feb 2025 10:01:42 +1100 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - AustralianSuper fined $27 million for 'betraying members' https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by ANTHONY VAN SLEEUWEN ()

Where does the $27 million go to?

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]]> ANTHONY VAN SLEEUWEN () Sat, 22 Feb 2025 10:01:42 +1100 Comment by Karen James ()

If my super fund has betrayed the trust of its members, then has not ASIC betrayed all of Australian Super's members by charging them $27 m in fines? Ludicrous punishment! Think what this fine could have learnt over the years!

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]]> Karen James () Sat, 22 Feb 2025 10:09:38 +1100