The Government recently announced the Your Future Your Super (YFYS) reforms as part of the 2020 Budget

A voluntary working group of experienced representatives from leading investment and actuarial consultants has explored the YFYS performance test in detail. Based on the analysis, the working group have strong concerns that the YFYS performance test will be ineffective at identifying poor performing funds while introducing a range of undesirable outcomes. The working group believe the detriments of the YFYS performance test may easily outweigh the benefits.