Super Review

Why super represented a solid investment in 2019

The latest Australian Prudential Regulation Authority data has confirmed why superannuation represented a solid investment destination in 2019.

Limited advisers could be caught out in best interests duty

Limited licenced advisers need to make sure they do not verbally give switching advice to clients even if it is undocumented as this would breach best interests duty, according to BT.

Don’t let consultants drive accountability outcomes says APRA

Superannuation funds and insurers should not rely too heavily on consultants to meet their obligations under the upcoming Financial Accountability Regime, according to the Australian Prudential Regulation Authority.

Deducting advice fees from member accounts gets thumbs-up

The deduction of financial advice from member’s superannuation accounts is reasonable, according to actuarial research house, Rice Warner.

Retail super funds in decline

Retail superannuation funds once dominated in terms of assets held in the industry, but those days are gone.

4 February

Retail super funds in decline

Retail superannuation funds once dominated in terms of assets held in the industry, but those days are gone.

A letter from both APRA and the ATO has spelled out the degree to which super funds will have increased interactions with the ATO via SuperStream mechanisms.

4 February

ASIC refused leniency on insurance inside super

A superannuation fund which sought a “no action” letter from the Australian Securities and Investments Commission

BT Financial Group has joined the chorus of calls for a harmonisation of the treatment of insurance both inside and outside of super.

4 February

FSC supports APRA’s changes on insurance in super

The Financial Services Council is in favour of the proposed changes made by the Australian Prudential Regulation

Aged care costs300

4 February

Retirement review needs to look at retiree experience

The Retirement Income Review needs to look beyond fiscal and budgetary implications, according to the Association

Challenger Limited posts strong first half on back of selling annuities via super funds and platforms.

4 February

Fees and costs only one part of performance

Purely focusing on a fund’s expenses could lead to the suboptimal outcome of lost returns, according to the

4 February

Australian retirees use home equity for retirement funding

Australians should be more incentivised to be able to use their home equity in order to improve their retirement

2019-12-04 21:15:00

Knowledge Centre

ESG ‘dating tips’ for asset managers

What does an asset owner look for in an asset manager to help them navigate sustainability and ESG investing?

BNP Paribas

QSuper has internally appointed Michael Pennisi as its new chief executive, replacing Rosemary Vilgan.

4 February

People & products

Australian Ethical appoints CEO

Australian Ethical Investment has announced that John McMurdo has been appointed as chief executive and managing

Australian listed property has helped the median super growth fund return a respectable 7.5 per cent for the 2016 calendar year, according to Morningstar.

4 February

Institutional investment

Liquidnet’s institutional trading volumes up

Liquidnet, an institutional investment firm, has posted a 24% y/y growth in institutional trading volume in

End of the line

30 January

Call to end the legalese around super products

There has been too much confusion around superannuation products because of an excess of legalese, according to

30 January

Retail and industry funds share Heron ratings

Both industry and retail superannuation funds are well-represented among the 82 fund assessed as worthy of 5 Heron

30 January

Hume questions validity of super fund fee increases

Some superannuation funds may have increased their fees simply because they had run down their administration fees

A key Senate Committee has been told it would be wrong to single out retail superannuation funds with respect to misconduct, with Treasury officials actually citing “arrangements with service providers, sponsorships, marketing activities and payments to n

30 January

Federal Govt wants industrial relations out of super

The superannuation industry is now big enough and old enough to be broken away from the “coddling’ of the

Super fund members who made non-concessional contributions (NCCs) from 1 July 2007 may have little to no NCC remaining, according to DBA Lawyers.

30 January

Aussies foregoing life insurance

Health costs have increased 200% since 2000 and the increasing costs of living means Australians are less likely

Super funds with higher fees have a higher allocation to riskier asset classes, according to CIFR.

30 January

AMP announces super fee reductions

AMP Limited has announced investment fee reductions impacting clients across MySuper, choice and cash and term

Australia’s two major financial services regulators have begun the pilot phase of their project to improve public reporting of life insurance claims. The pilot project was confirmed by both the Australian Prudential Regulation Authority (APRA) and the Aus

30 January

ClearView hit by adverse claims

ClearView has announced that its life insurance has been adversely impacted by claims and lapse which will impact

30 January

Institutional investment

Investor confidence declines in January

The State Street Investor Confidence Index has declined in January by 3.2 points to 76.5, with the largest fall

28 January

TWUSuper members largely exempt from insurance changes

The majority of members of TWUSuper would be largely exempt from the Government’s further changes to insurance

Despite last year’s volatile market conditions, the median balanced options still returned a solid 5.6 per cent for 2015.

28 January

Funds management

Did risk pay off for the top 5 Australian equity super funds?

An MLC fund had high volatility last year but was that risk worth it for its returns?

There will be over 200 planners and over $21 billion in retirement income when First State Super acquires StatePlus.

28 January

People & products

Class acquires NowInfinity

SMSF platform provider, Class has acquired Amreeta Abott’s NowInfinity.

28 January

People & products

Rice Warner founder receives Order of Australia

Michael Rice, founder and executive director of Rice Warner, has been made an Officer of the Order of Australia (

24 January

Aussie retirees need more than half a million dollars

Australian retirees will need to accumulate over a half a million dollars to escape the ‘retirement trap’,

The SMSF Association has urged self-managed superannuation fund (SMSF) trustees to apply for Capital Gains Tax (CGT) relief as there was still confusion around the implementation of the transitional rules. The association stressed that the tax return lodg

23 January

Hard deadline needed on comparable APRA super data

The Federal Government needs to impose a hard deadline on the Australian Prudential Regulation Authority to

The directors of the eligible rollover fund (ERF) owned by the industry funds paid its directors a total of $225,000 last financial year, some of which found its way to Industry Super Australia (ISA). Under questioning within the Senate Economics Committe

23 January

Funds management

Revealed: How much an industry fund pays in fees

Industry fund Hostplus has revealed its multi-million bill for investment and management fees.

Decrease 05-300

23 January

Balanced super funds unlikely to have strong returns

Balanced super fund returns will take a hit in the coming years as interest rates hit the bottom of the cycle,

23 January

Institutional investment

Outsourcing ESG methodology no longer enough

It will not be long until asset managers and institutional funds cannot keep environmental, social, and governance

The Australian Prudential Regulation Authority (APRA) has sent a clear signal to superannuation funds that it is unhappy with director selection processes which preclude the ability of boards to reject directors who they believe are not appropriately qual

23 January

People & products

Iress appoints two directors

Trudy Vonhoff and Michael Dwyer will join Iress as non-executive directors on 1 February, 2020.

23 January

People & products

legalsuper appoints CIO

Norman Zhang has been appointed as the fund’s chief investment officer who most recently held the same role at

Mercer and Virgin Money Australia have expanded its partnership with the launch of public offer super fund, Virgin Money Super today.

22 January

Government outlines extension of BEAR to super funds

Superannuation fund executives and trustees will find themselves the subject to the equivalent of the Bank

The profit-sharing obligation between super funds and insurers conflict as super funds have an obligation to pursue claims, a superannuation lawyer believes.

21 January

FSC wants no grandfathering of super industrial agreements

The Financial Services Council has urged against the grandfathering of existing workplace agreements preventing

Australia’s two major financial services regulators have begun the pilot phase of their project to improve public reporting of life insurance claims. The pilot project was confirmed by both the Australian Prudential Regulation Authority (APRA) and the Aus

21 January

Claim information could indicate proportion in ‘dangerous occupation’

Most funds only become aware of a member’s occupation at claim time, according to Rice Warner.

21 January

Opt-out super a ‘blatant tax grab’: ISA

The proposal to allow lower-income earners to opt-out of super would hit NSW workers an extra $1.3billion in tax a

The FSC wants the superannuation guarantee increased to 12 per cent within six years.

21 January

Fair Work panel needed to lift super default standards

The Government needs to appoint members to the Fair Work Commission Expert Panel to ensure that only super funds

Superannuation funds need to do more about informing their members about the circumstances under which their account balances are being eroded by insurance premiums. The Joint Parliamentary Committee inquiry into the life insurance industry has been told

21 January

Super fund ethical details not mandatory

Many superannuation fund members are unaware they are part owners in industries that might not align with their

Federal Assistant Treasurer, Kelly O’Dwyer says it is simply wrong to suggest people can still work the super system to generate multi-million dollar balances.

21 January

ANU study on SG ‘a fantasy’: ISA

A new study from the Australian National University on the super guarantee assumes that every Australian is a

The SCT has appointed four new part-time members who bring significant legal expertise and wide-spread experience in superannuation..

21 January

People & products

HESTA appoints chief advice officer

Josh Parisotto will lead its advice and education services, having joined from VicSuper.

Actuarial research house, Rice Warner, has suggested there are changes the Government could make to eliminate the unintended consequences contained in the Budget.

21 January

Financial advice

A third of life clients considering changing advisers

A third of advised life insurance clients are considering changing their advisers because of the cost, lack of

The Australian Prudential Regulation Authority (APRA) has sent a clear signal to superannuation funds that it is unhappy with director selection processes which preclude the ability of boards to reject directors who they believe are not appropriately qual

21 January

People & products

First Super appoints co-chair

Mike Radda has replaced Lisa Marty who will step down from the board mid-2020.

The Australian Institute of Superannuation Trustees (AIST) has welcomed the digitisation of superannuation choice forms, which will allow consumers to see a list of their existing superannuation accounts or select their employers’ default fund, but stress

16 January

Make selecting a super fund compulsory says EQT

Equity Trustees has urged the Government to go further on default superannuation by making selection of a fund

16 January

ATO establishes SG legal precedent

The Australian Taxation Office has established a key legal precedent with respect to responsibility for the paying

Three-in-five Australians are worried they did not have enough money in retirement, a Mortgage Choice’s study has revealed.

16 January

Aussies believe they will outlive savings

People treat the Age Pension and their own savings differently and 53% of older Australians are worried they will

16 January

People & products

HESTA appoints new CCO

Superannuation fund, HESTA, has announced the internal appointment of Andrew Major to the newly created role of

15 January

People & products

Cbus CEO steps down

David Atkin will leave the superannuation fund after 12 years at the helm.

15 January

Strong super fund 2019 results will not be repeated

Superannuation funds are expected to have a solid year in 2020 but will be challenged by the low return

14 January

SG: One size does not fit all say academics

New Australian National University modelling around the superannuation guarantee has raised serious questions

Negative returns

14 January

ASIC confirms sub-$200K SMSFs generate negative returns

The average self-managed superannuation fund with a balance less than $200,000 generated negative returns over

Superannuation funds cannot be held responsible for correcting or preventing mistakes by financial planners in circumstances where they don’t know every member’s personal circumstances.

14 January

Are millennials repeating baby boomers mistakes?

Young Australians need to learn how to save for their comfortable retirement early on, to avoid repeating mistakes

The absence of adequacy or a standard of living in the Government’s objective of super definition can ignore qualitative outcomes, WIS believes.

14 January

Institutional investment

UniSuper only paying lip-service to sustainable investment

Market Forces has launched a campaign with UniSuper members to pressure the fund into divesting from companies

Hyperion closes funds to new investors

14 January

Funds management

AMP Capital’s infrastructure fund closes at US$3.4bn

AMP Capital’s global infrastructure fund, with over 60 global institutional clients, has announced it had exceeded

The Australian Prudential Regulation Authority (APRA) has sent a clear signal to superannuation funds that it is unhappy with director selection processes which preclude the ability of boards to reject directors who they believe are not appropriately qual

14 January

People & products

LGS appoints third independent director

Claudia Bels has been appointed as a non-executive director to the Local Government Super board.

Superannuation funds can and should be allowed to play a greater role in collecting unpaid superannuation guarantee (SG) contributions directly from employers, according to major building and construction industry fund Cbus. Cbus, which found itself in tr

10 January

Unpaid super to impact Victorian retirement

Victorian workers have lost more than $1.4 billion in unpaid superannuation, according to an analysis by Industry

Market Insights

ESG ‘dating tips’ for asset managers

ESG ‘dating tips’ for asset managers

5 December 2019

Member insights are key to the future of engagement

Member insights are key to the future of engagement

1 October 2019

Why tax optimisation is the next fund frontier

Why tax optimisation is the next fund frontier

21 October 2019

EVENTS

Jul30

Super Fund of the Year Awards 2020

Fannoowww!!!

2030??? He's being conservative!!! Joe Hockey as Shadow Treasurer was talking this way back...

Single super regulator by 2030 1 week 2 days ago

David Williams

Noel Davis is right. Super funds are not a magic pudding for trustees (and APRA) to cut a slice...

Operational risk reserves – what the IOOF case taught us 1 week 3 days ago

A

*Rep 655

Super funds receive ASIC rap over PYSP comms 2 weeks 3 days ago

Dave Peckitt

Hi do you have any info on financial planners in perth? I'm looking to consolidate my super...

Six superannuation consultancies prove stand outs 7 months 4 weeks ago

Not so

The suggestion that Link would have 90% of the fund admin market is just plain wrong. The majority...

Pillar sale brings admin competition into focus 3 years 11 months ago

Graeme Officer

I RECENTLY WITHDREW MY FUNDS FROM MY ACCOUNT WITH YOU AND HAVE LOST THE DOCUMENTATION OF THE...

Qld’s LG Super becomes LGIA 3 years 4 months ago