Money magazine Comments - Who will pay AustralianSuper's $27 million fine? Australia's biggest super fund has copped a $27 million fine. Where does the money for the fine come from? And who really pays? https://www.moneymag.com.au/feed/latest?story=179807671 Thu, 27 Feb 2025 09:16:30 +1100 Thu, 27 Feb 2025 09:16:30 +1100 en-AU Copyright 2026 Money magazine 5 Money magazine Comments - Who will pay AustralianSuper's $27 million fine? https://media.moneymag.com.au/prod/media/library/Money_Mag/Logo/Logo_401x133.png Comment by Sydney Richards ()

Thanks Nicola for your article on Australia Super. I am now retired but was with AMP super for most of my working life untill 55yrs, AMP s business model was for me to have 4 super accounts ,their charges accounted for almost all leaving me with 70k at 55yrs.

I then switched to Australian and now 4 yrs into retirement have 670k.

Im pretty happy and tell everybody i can about AMP s predatory business model.

Have a great day

Syd

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]]> Sydney Richards () Thu, 27 Feb 2025 09:16:30 +1100 Comment by Wendy G ()

From your explanation it seems that even though the super company is fined, it still is at the end of the day the members who pay even if it overall is a small amount. Maybe who ever runs the show there should pay the fine personally, this could result in less errors made in the future.

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]]> Wendy G () Thu, 27 Feb 2025 16:30:03 +1100