Super switching sees billions flow out of traditional funds, at a risk

The movement of over $1 trillion from traditional retirement funds into less regulated self-managed superannuation funds (SMSFs) and managed investment schemes is raising significant concerns among regulators. This shift, driven by individuals taking more control over their retirement savings, means less oversight by APRA, leading to potential risks in fund management. The implications are vast, as the less regulated environment could expose investors to higher financial and administrative risks, prompting scrutiny on the adequacy of current regulatory frameworks.