core plank of the Morrison government’s Your Future Your Super reforms, aimed at weeding out dud products and saving up to $17 billion in fees expected to be paid by consumers to trustees over the next decade. Colonial’s superannuation CEO hopes that both the MySuper funds under her control would advance to the top 25 per cent of the funds in next year’s test.
Pointing to the average return of 8 per cent a year for customers of the FirstChoice Lifestage, and a 22.4 per cent average return over the 12 months to June 30 in its MySuper FirstChoice Lifestage funds, Power noted that the company has “improved” its performance over the recent past.
