Superannuation

Former ANZ superannuation trustee OnePath Custodians has been hit with a $5 million penalty for charging superannuation members more than $4 million in fees that it was not entitled to.

A judge has reluctantly granted extensions in a class action over QSuper’s alleged failure to notify members of changes to its premiums, saying the delay in the two-year old case was "very disappointing".

The receivers of Sydney fraudster Melissa Caddick's estate have reached an agreement with her husband on a small pool of remaining assets in dispute that will see half of her teenaged son's sneaker collection sold to repay defrauded investors.

AustralianSuper has admitted that it contravened superannuation regulations when it failed to merge the accounts of members who had multiple accounts, but says it has remediated affected customers more than $69 million.

Twenty-four former clients of Melissa Caddick who were defrauded out $24.5 million have filed a class action against the auditors of the self-managed superannuation funds they used to invest their retirement savings with the Sydney fraudster.