AMP reaps $100m in zombie super account fees

Scandal-plagued wealth company AMP is reaping more than $100 million in fees every year from 1.1 million zombie super­annuation accounts, as part of a broader $2.6 billion nest-egg gouge.

Major super changes set to take effect

With Labor stalling government moves to return more than $6.6bn in savings to Australians, The Australian can reveal that major funds in the $2.7 trillion superannuation sector are holding on to high rates of lost and ­forgotten member accounts that are vulnerable to having their ­balances eroded by excessive fees.

Read more at The Australian.

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