Dud superannuation options could cost retirees up to $205,000, Super Consumers warns

With the number of retirees on superannuation projected to more than double over the next decade, analysis by Super Consumers Australia has revealed people with poor-performing investment products could lose up to $205,000 in their post-work years.

The consumer group has analysed data from the Australian Prudential Regulation Authority (APRA) to assess the performance of investment options in retirement and their financial impact on retirees.

Its report reveals that all the superannuation options that failed the federal government's annual performance test this year were also offered to retirees.

The test does not apply to products offered to retirees, so people with their retirement savings invested in them are none the wiser, Super Consumers Australia CEO Xavier O'Halloran says.

"Wha