SYDNEY (Feb 4): Australia's corporate regulator has warned the nation's A$4.5 trillion (US$3.16 trillion or RM12.4 trillion) pension fund industry it needs to invest more in systems and technology to better prepare for the future and avoid becoming troubled like stock market operator ASX. Australian Securities and Investments Commission (Asic) commissioner Simone Constant said the pension fund industry, known locally as superannuation, was on track to be worth A$6 trillion by 2030. At that size, she said, it would be larger than Australia's banking system and is an increasingly important part of the country's financial system. "Our recent thematic review of platform trustees identified examples of weak practices in the investment governance of investment options offered on platforms, including investment option onboarding and monitoring." Australia's pension fund industry has previously been put on notice to speed up preparations for an estimated 2.5 million people due to retire in the next decade.

Source: The Edge Markets February 04, 2026 07:17 UTC