2021 marks the beginning of annual APRA performance tests on MySuper products. The requirement
was introduced a part of the government's Your Future, Your Super reforms and
is aimed at holding funds to account for underperformance and enhancing
industry transparency. The first annual test of 76 (out of 80) MySuper products
from various super funds or RSEs found that 13 products failed to meet the
benchmark. These products will need to notify their members of the failed test
and make improvements needed to ensure they pass next year's test.
Fair Work Commission Deputy President Peter Sams has decided to award indemnity costs against a worker despite acknowledging how "rare and unusual" such awards are. He made this decision because the worker had ignored a confidential settlement of a disputed matter, had lodged a complaint containing gratuitous insults and unsupported allegations – and had done it all before in relation to a different employer.