Australia's super funds hit transparency record but slip in global rankings

Australian superannuation achieved its highest transparency score in five years but dropped to 7th place globally, the lowest ranking in 17 years despite managing over A$4 trillion. The paradox reflects growing international competition and persistent adequacy gaps that score 11.6 points below top-tier systems. APRA's performance testing now covers 563 products, but critics warn current benchmarks may discourage infrastructure investments in favour of listed equities. With the Super Guarantee hitting 12 percent in July, the system's scale advantages risk being undermined by regulatory frameworks that prioritise short-term compliance over long-term member outcomes.