Super Review

Nine in 10 super funds estimated to pass performance test

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.

Super industry needs to adapt to cope with mega-funds: KPMG

There are expected to be eight funds with more than $125 billion in funds under management by 2025, according to KPMG, and funds’ frameworks will need to adapt to cope.

Engagement activity less valuable for funds: EY

It would be more effective for superannuation funds to focus on building an attractive default fund than spending money to try to engage members in the accumulation stage, according to EY Australia.

APRA has questioned whether lifting premiums represented an adequate answer to the problems confronting the group life market.

Is Hostplus worthy of SuperRatings top spot for FY22?

Stockspot's founder has thrown doubt on Hostplus’ 2022 financial year returns, highlighting a need for greater transparency of holdings within the industry.

Look out for ‘gamification’ of super

The superannuation industry could see increased ‘gamification’ as a way to increase member engagement, according to GBST.

31 March

Half of small super funds facing sustainability challenges

Australian Prudential Regulation Authority analysis has found half of small superannuation funds, those with less than $10 billion in assets under management, are facing sustainability challenges.

31 March

ASIC extends relief for retirement estimates

The Australian Securities and Investments Commission has extended the relief for superannuation trustees who give their members retirement estimates on a periodic statement for nine more months.

31 March

ATO warns of rise in SMSF fraud

The number of fraudulent self-managed superannuation funds is rising, according to the Australian Taxation Office.

2022-07-31 14:00:00

Knowledge Centre

Driving Growth in Asset Management: The Next Chapter

The next chapter in driving growth for asset management will mean anticipating change and evolving for the future. Learn how the most successful asset managers will focus their resources.

Northern Trust

31 March

Budget 2022: ‘Gender blind spot’ exists in superannuation

Superannuation funds Rest, Aware Super and HESTA have responded to the Budget, stating addressing gender inequity was a missed opportunity.

31 March

ASFA research shows Australians want less tinkering with superannuation

Research from the Association of Superannuation Funds of Australia (ASFA) has found Australians believe more money should be saved for their retirement, not less.

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

31 March

AIST calls out Govt for delaying Choice product dashboards

Choice funds will not need their own product dashboards in place until 2027, according to the Australian Institute of Superannuation Trustees, a substantial delay to the previous deadline of 2023.

2022-07-31 14:00:00

Knowledge Centre

Holding chemical companies to account

Reducing the damaged caused by hazardous chemicals takes holding chemical companies to account through public rankings. See what it takes.

Aviva

30 March

Budget 2022: Industry responds to Budget measures

Industry associations have welcomed the Federal Budget for providing stability by leaving superannuation unchanged but believe mums will be left behind.

29 March

What does the super industry want from tonight's Budget?

With the Federal Government announcing its Budget tonight, Super Review has collated what superannuation groups have been asking to be included.

29 March

Funds should not be ‘personal fiefdom’ for trustees

The prudential regulator has indicated it will not shy away from suggesting smaller superannuation funds merge and highlighted trustees should not treat funds like their “personal fiefdom”.

29 March

Minimum drawdown rate reduction extended until June 2022

The Government has announced the temporary 50% reduction in superannuation minimum drawdown rates will be extended until 30 June, 2022, a move which has been welcomed by the industry.

29 March

The role of small funds post-mergers

Although open to mergers with other smaller funds, CareSuper’s chief executive, Julie Lander, says there will be a role for small to mid-sized players following industry merger activity.

The Australian Securities and Investments Commission (ASIC) has confirmed it has initiated a project which will closely examine life insurance within superannuation. The regulator has flagged that it intends on publishing a report on life insurance within

29 March

Associations welcome suspension of IDII policy contract term measure

Two financial services associations have welcomed the Australian Prudential Regulation Authority’s announcement suspending the proposed insurance policy contract term measure for individual disability income insurance for at least two years.

Responsible Investments

29 March

Funds management

Chant West launches responsible investment classifications

Chant West has incorporated responsible investment classifications into its ratings for superannuation fund investment options, allowing investors to make more informed investment decisions.

25 March

APRA suspends individual disability income insurance

The Australian Prudential Regulation Authority has decided to suspend individual disability income insurance measures for at least two years following consultation with the Australian Securities and Investments Commission.

24 March

NALI consultation offers ‘umbrella of hope’ for funds

The industry has reacted to the Government’s consultation on non-arms length income with one organisation describing it as offering an “umbrella of hope” for superannuation funds.

New global data from Willis Towers Watson confirms the importance of superannuation to Australian asset management.

24 March

The huge saving from internal management

Australian Super saved $200 million in the last financial year by managing assets in-house, according to J.P. Morgan, as more funds consider internal investment.

24 March

Closing the gender super gap with subsidies

Industry Super Australia modelling shows increasing the Child Care Subsidy by 10% and flattening and simplifying the taper rate would encourage more women to work more paid hours, helping close the super gap.

24 March

Women seek Budget measures to address super inequity

Superannuation funds are calling for action in next week’s Budget to address super inequity as women report incurring financial stress from taking time out of the workforce.

The retirement system in Australia needs to be completely reworked with wholesale changes instead of piece-meal efforts, according to CEDA.

24 March

Hostplus introduces three new investment options

Hostplus has introduced three new sector specific investment options for members and self-managed super fund investors, providing members and investors with more diversity and less asset and manager concentration risk.

O'Flaherty to depart Statewide

23 March

People & products

SuperFriend’s CEO steps down

Not-for-profit organisation, SuperFriend has announced the departure of its chief executive, Margo Lydon, after 11 years.

Mercer has won the key implemented consulting mandate with TAL Superannuation (TASL). TAL announced the mandate this week, stating it had appointed Mercer for six years following the results of a tender process completed earlier this year. Confirming the

23 March

Govt to consult on NALI after industry concerns

The Government has announced consultation plans to ensure non-arms length expense provisions operate correctly within superannuation, following industry concerns.

22 March

Keeping pace with M&A activity

With J.P. Morgan forecasting superannuation funds could fall to less than 75, Super Review has collated the latest M&A activity in the space over the last six months.

22 March

Retirement savings gap moving in the right direction

Median retirement savings for women are improving but are still well short of the amounts needed to support a comfortable standard of living in retirement, according to the Association of Superannuation Funds of Australia.

22 March

Median growth fund slips 1.1% in February

The Ukraine turmoil has taken its toll on superannuation funds in February with the median growth fund slipping 1.1% over the month.

Sarah Jane Busteed has been charged after dishonestly obtaining a financial advantage by deception in relation to SMSF property investments.

22 March

Financial advice

Dealer group charged with anti-hawking offences

Dealer group National Advice Solutions in Queensland has been charged with 11 offences after encouraging clients to roll over their superannuation into different products.

21 March

The mega SMSFs holding millions in assets

There is one self-managed super fund with more than $544 million in assets, according to Australian Taxation Office data, and 27 with more than $100 million.

Piggy bank Australia300

18 March

HESTA plans to internally manage 15% of $68b fund

HESTA has announced it will bring its active Australian equities investment management in-house with plans for the fixed income and cash teams to follow suit.

17 March

Super industry could fall to less than 75 funds by 2025

Two-thirds of superannuation funds could disappear by 2025 as the pace of merger activity could see the number of funds fall to less than 75, according to J.P. Morgan.

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

17 March

AIST pushes for delay to super reporting changes

The Australian Institute of Superannuation Trustees has encouraged the regulator to delay amendments to reporting standards until July 2023 as it feels it would be costly to make changes at this stage of the financial year.

17 March

Super funds lagging behind on private equity

While the Future Fund has 16% allocated to private equity, most Australian superannuation funds are only just catching up, according to Pengana.

The Australian Institute of Superannuation Trustees (AIST) has appointed Eva Scheerlinck as acting chief executive. Scheerlinck who is currently AIST executive manager, governance and stewardship will commence the new role when current CEO, Tom Garcia, de

17 March

People & products

New CEO for Women in Super

Women in Super has appointed Jo Kowalczyk as its new chief executive after Sandra Buckley left at the end of 2021.

Appointment (2)300

17 March

People & products

Australian Super appoints first COO

Australian Super has appointed Peter Curtis as its first chief operating officer.

Responsible Investments

17 March

Hostplus powers Gippsland clean energy park

Hostplus has partnered with the Clean Energy Finance Corporation (CEFC) and clean energy investors Octopus Australia to develop renewable energy assets in Gippsland.

Identifying what beneficiaries are asking for is the first step to ESG implementation, according to SSGA.

15 March

Hostplus commits to transition to net zero emissions by 2050

Hostplus has committed to transition its investment portfolio to net zero emissions by 2050, in line with Australia’s commitment to the Paris Agreement.

15 March

Median balanced option falls following invasion of Ukraine

The median balanced superannuation option fell by 0.8% in February in response to the invasion of the Ukraine, according to SuperRatings.

Decade-long tenure for super trustees

15 March

Clamp down on super funding unions: Bragg

Significant law reform is needed to clamp down on superannuation payments to trade unions, according to Senator Andrew Bragg.

Tender consultants have confirmed that a number of corporate and industry funds are conducting group life tenders at the same time as Comminsure has encountered adverse publicity.

15 March

Flooding insurance claim estimates pass $2b

The estimated costs of claims related to the floods on the East Coast of Australia have now passed $2 billion, according to the Insurance Council of Australia.

A new study conducted by AIA Australia has confirmed strong support for the provision of income protection insurance within super.

15 March

Former MLC CEO backs new life insurance entrant

Backed by former MLC and Perpetual chief executive, Geoff Lloyd, iExtend is aiming to address a gap in life insurance by providing another option for policyholders driven to cancel their policies.

14 March

2022: the year of change for SMSFs

The Self-Managed Superannuation Fund Association's deputy chief executive, Peter Burgess, has laid out exactly what changes advisers should be paying attention to in the SMSF sector this year.

10 March

Superannuation levy could be removed from AFCA fee structure

The removal of the superannuation levy would see 82% of superannuation members experience reduced total annual fees under a proposed user-pays funding model from the Australian Financial Complaints Authority.

Decade-long tenure for super trustees

10 March

Labor rules out imposing superannuation balance limits

Shadow Treasurer Jim Chalmers says Labor will not limit superannuation balances or impose an earnings tax on members’ retirement phase, a move which has been welcomed by the SMSF Association.

10 March

How exposed is your super fund to Russia?

With the Government announcing its desire for superannuation funds to divest from Russia, Super Review collates the intentions and exposures of major funds.

Custodian cautions trustees not to ignore the investment implications flowing from climate change.

10 March

Aussies keen for super to invest responsibly

Out of all financial products, investors are most keen that their superannuation is invested responsibly, according to the Responsible Investment Association Australasia.

Amid all the reportage of the multi-billion dollar bid for private equity ownership of Fairfax Media’s most desirable assets, Rollover noted that one of the major backers of private equity outfit, TPG, was the Ontario Teachers’ Pension Plan.

10 March

Institutional investment

Schroders secures mandate from super fund

Schroders has announced the launch of the new fund for institutional investors after securing a foundation investment mandate from a large superannuation fund.

TelstraSuper has announced new investment in innovative technology by partnering with private equity IP Group Plc.

10 March

People & products

NEOS and MLC partner on life insurance product

NEOS and MLC Life Insurance have partnered to launch a life insurance product in the next few months.

8 March

Govt rejects paying super on parental leave

The Government is believed to be unlikely to pay superannuation on parental leave despite industry pressure, according to two anonymous Liberal sources.

Allocated pensions outflows

8 March

Regulation to cause escalated outflows from employer super funds

Recent legislative reforms are causing a slowdown in employer superannuation funds, according to research by DEXX&R, and projected outflows to industry funds are expected to escalate over the next 10 years.

Women in higher tax brackets have on average slightly higher super savings than men, according to the ATO.

8 March

HESTA welcomes WGEA review’s recommendations

HESTA has welcomed the Workplace Gender Equality Agency’s recommendation with regards to data on superannuation on parental leave.

Research house Milliman has added its voice to calls for a move away the Association of Superannuation Funds of Australia (ASFA) comfortable retirement standard to a more personalised member approach. At the same time as universities-based industry fund,

8 March

How much do you need to retire?

Consumer organisation Super Consumers Australia has released research which challenges the assumption that couples need to have saved $1 million to enjoy a comfortable retirement.

Northern Trust has made three senior hires in its Sydney and Melbourne offices as a response to business expansion and enhanced local product capabilities. Tania Tuxford and David McWilliams have been hired as business development managers and Simon McDon

8 March

People & products

Cbus appoints chief member officer

Cbus has promoted Marianne Walker to the newly-created role of chief member officer.

Market Insights

Driving Growth in Asset Management: The Next Chapter

Driving Growth in Asset Management: The Next Chapter

1 August 2022

Holding chemical companies to account

Holding chemical companies to account

1 August 2022

Asset Owners Create a More Powerful Voice

Asset Owners Create a More Powerful Voice

7 July 2022

What’s ahead for Private Credit?

What’s ahead for Private Credit?

1 August 2022

Steve

That intra-fund advice system is going gang-busters lol. Time we got rid of the annual fee...

Service quality complaints on the rise 3 weeks 2 days ago

GP

Personally I'm not in favor of this legislation but not for the reasons of the alarmist media...

Super for housing will torpedo funds’ returns 2 months 4 weeks ago

OknFD

"In comparison with the majority of other wagering sites, 1xBet Betting Company sets itself up...

Budget changes fall short of objectives 4 months 1 week 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 3 years 1 month ago

Anonymous

This is the most ill informed comment I have ever seen. Why on earth would you think Superannuation...

We aren’t anyone’s secretariat says AustralianSuper 2 years 1 week ago

Axl

That's 'toe the party line'.

We aren’t anyone’s secretariat says AustralianSuper 2 years 1 month ago