SuperRatings has analysed super fund performance in line with the Government’s performance test criteria and found that 90% of trustee directed options are estimated to pass the test compared to 80% from last year.
Chief executive of Aware Super, Deanne Stewart, and HESTA’s Lisa Samuels have joined the board of the Funds Executives Association, provider of professional development and education for fund executives.
While acknowledging the benefits of superannuation industry consolidation, former Treasurer and current Cbus Super chair, Wayne Swan, says the industry must be careful of the risks associated with too much merger activity.
Research from MLC Life Insurance has revealed 60% of superannuation members have never heard of the superannuation stapling reforms, potentially leaving them with inadequate or no life insurance protection when they change jobs.
The Retirement Income Covenant (RIC) may set a benchmark when it comes to what is good practice for retirement strategy without diminishing the value offered by financial advice, according to Accurium.
The Government has reconfirmed their previously-stated commitment to adjust legislation to provide for the ability to commute certain non-commutable income streams, but only in the case of excess transfer.
The Australian Securities and Investments Commission has acted against 19 self-managed super fund auditors since July, for breaches of auditing standards, independence requirements, registration conditions and for failing the fit and proper person test.
AustralianSuper and Singtel’s Australia Tower Network have announced the acquisition of Axicom, provider of telecommunications tower infrastructure, for $3.58 billion, as the super fund looks to double its infrastructure portfolio over the next five years.