Good afternoon,

The ASX officially entered correction, sinking 2.4 per cent in the final trading session of the week to 7667.80 points and wiping $57bn from the market, 10 per cent below the record of February 14.

Cyber criminals have carried out a co-ordinated hit on some of the country’s biggest super funds including Australian Super, Australian Retirement Trust, Hostplus and Rest, and thousands of members are understood to be affected. 

But the current super fund merger frenzy is an unstoppable force and if you’re in a smaller fund, chances are it’ll be taken over. Here’s what you need to know.