Design of Mysuper Default Funds: Influences and Outcomes

Accounting and Finance, 57(1), 47-85

Posted: 8 Oct 2015 Last revised: 13 Dec 2017

See all articles by Adam Butt

Adam Butt

Australian National University - Research School of Finance, Actuarial Studies & Statistics

M. Scott Donald

UNSW Law

F. Douglas Foster

The University of Sydney - Discipline of Finance; Financial Research Network (FIRN)

Susan Thorp

University of Sydney Business School; Financial Research Network (FIRN); Centre for International Finance and Regulation (CIFR)

Geoffrey J. Warren

Independent

Date Written: 2017

Abstract

We interview Australian fund executives about how their organisations responded to MySuper, a regulatory framework for default retirement savings funds that providers were required to have in place by the beginning of 2014. We provide an account of the influences on MySuper product design. Our analysis provides insight into how fund providers balanced their perceptions of the needs of default fund members against business considerations. Differences in member bases and organisational circumstances across funds are found to lead to considerable variation in default fund design.

Keywords: pension funds, default investment products, investor needs, regulation

JEL Classification: G11, G23, G02

Suggested Citation

Butt, Adam and Donald, M. Scott and Foster, F. Douglas and Thorp, Susan and Warren, Geoffrey J., Design of Mysuper Default Funds: Influences and Outcomes (2017). Accounting and Finance, 57(1), 47-85. Available at SSRN: https://ssrn.com/abstract=2670429

Adam Butt (Contact Author)

Australian National University - Research School of Finance, Actuarial Studies & Statistics ( email )

Canberra, Australian Capital Territory 2601
Australia

M. Scott Donald

UNSW Law ( email )

Kensington, New South Wales 2052
Australia

F. Douglas Foster

The University of Sydney - Discipline of Finance ( email )

P.O. Box H58
Sydney, NSW 2006
Australia

Financial Research Network (FIRN) ( email )

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

Susan Thorp

University of Sydney Business School ( email )

P.O. Box H58
Sydney, NSW 2006
Australia
+61 2 9351 6354 (Phone)

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Centre for International Finance and Regulation (CIFR) ( email )

Level 7, UNSW CBD Campus
1 O'Connell Street
Sydney, NSW 2000
Australia

Geoffrey J. Warren

Independent

No Address Available

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