Industry super fund fees sure to rise

Super choice is likely to lead to increased fees rather than lower fees for some members of superannuation funds, Ian Silk, head of the large “industry” super fund, the Australian Retirement Fund, said. Silk said the early talk of choice leading to a reduction in fees was wrong, and that the majority of industry funds were in the process of increasing fees. He said some small industry funds were expected to merge after July because they lacked the scale to compete.