APRA’s key questions on super fund liquidity

30 March 2020

The degree to which superannuation funds are under pressure to keep a close watch on their liquidity has been revealed by a demand from the Australian Prudential Regulation Authority (APRA) that they complete a report on their liquidity position.

Superannuation fund executives have confirmed to Money Management that they have received a spreadsheet from the regulator on their liquidity position which must be completed by the close of business on 30 March.

The regulator’s move has come amid the loss of further jobs in the sports, hospitality and retail industries which are expected to have flow through effects on fund flows as superannuation guarantee payments dry up.

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A number of major industry superannuation funds have also announced downward revisions to the value of their unlisted investments.

APRA announced last week that it was changing its supervisory priorities and would be maintaining a close watch on fund liquidity.

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Looks like Rest is in trouble, can only hope that an industry fund doesn't destroy the superannuation industry, with their unlisted assets then we wouldn't have anymore of those great adds, compare the pair, we had unlisted assets over inflated and made up returns (sorry crediting rates) so that we can always make ourselves look better,

The whole of superannuation should be voluntary. We were never asked in 1992 if we wanted this. We never voted on it. We were forced into a specific Fund whether it performed well or not, whether it had high fees or not, no matter what was in it's Trust Deed, when we didn't know a Trust Deed existed. Remember every advert on T.V you, the contributor to Superannuation, has paid for it to be made and you pay the T.V station to run it. These C.E.O's on million dollar salaries along with Trustees and Boards now want the taxpayer to bail them out via the Reserve Bank because of their incompetence with lack of liquidity. And we are supposed to hand over our money to these people who shouldn't be in charge of a school tuckshop finances. It's supposed to be our money. Now try to get hold of it when you need it most. It's not your money. It's gone from your control once it goes into the black hole called superannuation. Make it voluntary and you be in charge of your money. It's the biggest rort on the Australian worker. These Funds have built themselves multi million dollar empires.The benefit is to the Funds employees, the Unions a nd the Labor Party.

Pray that what we hear are the death bells tolling for industry unionised super.

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