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When you think your retirement savings are safe with Australia’s biggest super funds, think again. The latest ASIC legal action against Mercer Super — one of the nation’s largest players — has revealed a shocking reality: even industry giants are charging fees to the dead, misleading regulators, and failing the very Australians they claim to protect.
Mercer Super: Charging the Dead and Misleading the Living
The Australian Securities and Investments Commission (ASIC) has slammed Mercer Super with legal action for practices that sound more like a scandal than responsible fund management.
- Insurance premiums charged after death – Yes, Mercer was literally taking money from accounts of deceased members.
- Members left without default insurance cover – exposing families to financial risk when they thought they were protected.
- Critical updates ignored – Mercer failed to process essential member information, leaving accounts in disarray.
- False reporting – ASIC alleges Mercer understated how many people were actually impacted, hiding the full scope of the problem.
This isn’t just a slip-up. It’s systemic negligence in a fund managing $70 billion and 950,000 Australians’ retirement savings.
The Myth of “Big Super” Safety
Australians are told bigger is safer when it comes to superannuation. But the Mercer case blows that myth apart. When the seventh-largest fund in the country can:
- Mislead regulators
- Undermine member protections
- Profit from deceased accounts
It’s clear the system is broken. And it’s not the first time — scandals in industry funds and retail funds alike prove that too often, your super is at the mercy of bureaucracy and mismanagement.
Why Relying on Industry Super Could Cost You Everything
This is the danger no one wants to talk about: your future, tied to a super fund, is only as strong as its weakest compliance link. And as ASIC’s case shows, even the biggest funds can fail spectacularly.
Your retirement isn’t just numbers in a system. It’s your ability to live with freedom, dignity, and security. Yet for many Australians, that future is left exposed to risk, red tape, and reckless corporate behaviour.
TIC Property: Real Assets, Real Control
While super funds make headlines for all the wrong reasons, TIC (Tenants in Common) Property offers a direct alternative:
- Own real property from as little as $75,000*
- Enjoy monthly rental income, not false promises
- Be on title — with your name, your ownership, your control
- Transparent exits — not hidden reporting or inflated fees
TIC Property isn’t about trusting faceless managers. It’s about owning tangible real estate that puts you in control of your financial future — not at the mercy of corporate spin.
Book your private strategy session today: supavest.com/utilities/booking
Disclaimer: Supavest does not provide financial advice. Please consult a licensed financial advisor before making any investment decisions.
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