The Australian Securities and Investments Commission (ASIC) has published a report showing that superannuation platform trustees have failed to monitor high fees and protect the assets of their members.

澳洲證券及投資委員會 (ASIC) 發表的一份報告顯示，退休金平台受託人未能有效監控高額費用並保護其會員的資產。

This investigation was caused by the collapse of the Shield and First Guardian Master Funds, which led to the loss of about $1 billion in retirement savings for over 11,000 people. ASIC reviewed six trustees managing a total of $300 billion and found that they consistently failed to control financial advice fees. For example, fee limits were often too high, and 50% of the trustees failed to check advice documents during at least one month of the study.

此次調查是由於 Shield 和 First Guardian Master Funds 的崩潰而引起，導致超過 11,000 人的退休儲蓄損失約 10 億澳元。ASIC 審查了管理總計 3,000 億澳元資產的六家受託機構，發現他們始終未能控制理財建議費用。例如，費用上限通常過高，且在研究期間，50% 的受託機構在至少一個月內未能檢查建議文件。

Furthermore, the growth of these institutions has happened faster than their ability to manage risks. Between 2015 and 2025, member benefits grew from $123 billion to $396 billion, while advice fees increased four times to $2.3 billion. Consequently, there is a conflict between the desire for growth and the legal duty to act in the members' best interests. ASIC emphasized that trustees did not properly check the business models of advice providers, especially regarding how they find new clients.

此外，這些機構的成長速度快於其管理風險的能力。在 2015 年至 2025 年間，會員權益從 1,230 億澳元增長至 3,960 億澳元，而理財建議費用則增加了四倍，達到 23 億澳元。因此，追求成長的慾望與履行「以會員最佳利益行事」之法律責任之間存在衝突。ASIC 強調，受託機構未能妥善審查建議提供者的商業模式，特別是關於他們如何開發新客戶。

At the same time, the Association of Superannuation Funds of Australia (ASFA) noted a change in how people find information. Young people aged 18 to 34 are ten times more likely to use social media for retirement data than those over 65, even though they do not trust these sources. This problem is made worse because the number of licensed financial advisers has dropped by 40% over ten years, while the number of account holders has increased by 20%.

與此同時，澳洲退休金基金協會 (ASFA) 注意到人們獲取資訊的方式有所改變。18 至 34 歲的年輕人使用社交媒體搜尋退休資料的可能性是 65 歲以上人士的十倍，儘管他們並不信任這些來源。由於過去十年中，持牌理財顧問人數下降了 40%，而帳戶持有者人數卻增加了 20%，使得這個問題更加嚴重。

ASIC has ordered trustees to fix these management gaps immediately to prevent further financial losses for retirement savers.

ASIC 已命令受託機構立即修復這些管理漏洞，以防止退休儲蓄者遭受 further 財務損失。