Super Review

Mine Wealth + Wellbeing has appointed an independent director to its board and a director to a subsidiary board.

Lump sums not so super fuel for the housing debate

Superannuation lump sums are still being accessed by a significant cohort of retirees but not at the same level as a decade ago.

Advisers need to demonstrate value to new SMSF cohort

The eldest millennials are starting to look at self-managed superannuation funds but trust issues are a barrier to receiving financial advice.

ATO needs to clarify NALE rules

Self-managed superannuation fund trustees need to consider non-arm’s length expenses rules and the new auditor independent rules as they some of the upcoming rules that are to be enforced soon.

Reviews650

Super funds need to review liquidity budgets

If the Government continues to use the early release of superannuation as a tool likely to be used in extreme situations, super funds need to consider their liquidity requirements going forward, according to Hesta.

Biggest is not best with absolute return

Only one of the largest absolute return superannuation funds saw top-quartile returns while the smallest fund produced the best performance in 2020.

With the spotlight on governance intensifying, Mercer has acquired a new web-based risk management solution.

10 November

Super funds need more digital tools

A new survey has highlighted the demand from superannuation fund members who want better online retirement

Seventh consecutive year of positive returns Despite the rumblings in Europe, the latest Chant West data points to a seventh consecutive financial year of positive super returns. Despite the uncertainties created by the United Kingdom's vote to ex

10 November

Australians support increasing SG

Most Australians support increasing the superannuation guarantee to 12% and only 30% believe they will have a

The lack of robust data is the most influential barrier for institutional investors to further incorporate environmental, social, and governance (ESG) into investment decision making, according to BNP Paribas Securities Services. BNP Paribas Securities Se

5 November

Significant super lessons from McVeigh v Rest

Legal analysis of the settlement reached between Rest and its member and ecologist, Mark McVeigh, has pointed to

2021-01-29 00:30:00

Knowledge Centre

Themes driving the need for a more sustainable approach to investing

Sustainable investing is on the rise, and COVID-19 has only sharpened the focus of policy makers and investors...

Ausbil

5 November

Funds management

Geared Aussie equity super funds best over 5 years

While super funds focused on geared Aussie equities returned higher than any other equity-focused super fund

Policy makers should start demanding answers about why not-for-profit industry superannuation funds continue to outperform bank-owned funds, Industry Super Australia (ISA) believes. ISA pointed to SuperRatings’ data for the decade ending 31 May 2017 which

5 November

Industry funds advertising to be scrutinised

A key Parliamentary Committee has declared its intention to scrutinise the amount of money being spent by industry

The Superannuation Complaints Tribunal received 1,739 complaints of which 91 per cent were resolved, according to its annual report.

5 November

AFCA proposes unresolved SCT complaints transferred to ASIC

The complaints authority has proposed a change to its rules to allow the Australian Financial Complaints Authority

2020-11-24 22:30:00

Knowledge Centre

Beyond the digital frontier

Secure, real-time data, insights and transactions accessible from anywhere are closer than you think – explore a...

Northern Trust

SMSF Association chief executive, Andrea Slattery has urged the incoming Government to address the need to make infrastructure investment easier for SMSFs.

5 November

Institutional investment

Infrastructure sector backed by Biden and Trump

Both US presidential candidates have indicated a much-needed investment to replace ageing infrastructure,

AustralianSuper has urged the Senate Economics Committee to heed the industry’s concerns about the objective of superannuation.

5 November

Institutional investment

Super funds ignoring Aussie small caps

Australian small caps sitting outside of exchange traded funds indices are missing out on billions of dollars of

5 November

Post retirement

Rate cuts ‘kick in the guts’ for retirees

The reduction of the cash rate is a blow to fully and partly self-funded retirees and the Association of

Private market providers across Asia-Pacific could potentially fill gaps existing from government sponsored retirement systems and employer-sponsored pension arrangements, according to global consulting firm, Milliman. A survey of insurance companies and

3 November

Asia Pacific ex Japan super funds best at navigating COVID-19

The sector was the only one to have made a return so far this year with the top-performing fund returning 15.25%,

While superannuation funds understand digital advice is important, some are yet to move beyond calculators on their website, according to a report. The Association of Superannuation Funds of Australia (ASFA) and Decimal’s ‘Digital readiness of superannuat

3 November

Financial advice

Industry funds canvass three-way advice fee split

Industry funds are urging more clarity from the regulators on what can be delivered via limited and intrafund

Australian superannuation funds have been warned of the risks of tilting equity portfolios to maximise the benefits of franking credits.

3 November

Industry fund smoking gun or simple expression of concern?

Government backbenchers have pointed to evidence that AustralianSuper chief executive, Ian Silk, spoke to a critic

3 November

ATO to work with business who missed or underpaid super

Businesses that missed regular superannuation guarantee payments can lodge a charge statement by 28 November, 2020

Major super funds have lost $5.6 billion thanks to declining fossil fuel stocks, according to Market Forces.

3 November

Institutional investment

Westpac’s fossil fuel exposure at $9b

The bank has the most exposure out of any Australian bank to coal-fired power generation and has the second most

2 November

Super member wins lawsuit against Rest on climate change

The superannuation fund’s member, Mark McVeigh, has created a precedent when it comes to funds’ fiduciary duties

A recent decision by the Superannuation Complaints Tribunal has revealed that the GFC and illiquid superannuation fund investments are still taking their toll.

29 October

Wage boost promises were not kept in 2014 when SG froze

While politicians claim that cutting next year’s SG increase will lead to wage rises, the economic downturn will

Australian superannuation funds have been warned of the risks of tilting equity portfolios to maximise the benefits of franking credits.

29 October

Super performance test a ‘blunt single-issue measure’

The Government’s proposed superannuation performance test would likely pressure funds to forgo opportunities for

Mercer is arguing the purpose of superannuation cannot be defined without also defining the purpose of the Age Pension.

29 October

Super performance test needs to define ‘underperformance’

The Association of Superannuation Funds of Australia has proposed a two-stage assessment to look at fees and costs

29 October

Link allows PEP consortium due diligence

In what represents a strategic concession in the face of a private equity led bid for the company, Link

Global investor confidence dropped 8.3 points in August with poorer than expected earnings taking the wind out of US institutional investors’ sails, according to State Street.

29 October

Institutional investment

Investor confidence down in October

State Street Global Markets’ Global Investor Confidence Index dropped to 80.1 points in October, driven by a 17.4

28 October

TPB deregisters tax agent for SAN misuse

The self-managed superannuation fund tax agent made false statements that indicated audits had been done when they

Any levy on the major banks and Macquarie should be applied by the Commonwealth Government and at a higher rate, ME Bank believes. The industry superannuation fund owned bank said it agreed with the South Australian Government that the banks that benefite

27 October

Link’s McMurtrie rebuts takeover consortium’s claims

Link Administration is in good shape despite Government policy and despite the claims of a takeover consortium,

http://www.superreview.com.au/news/superannuation/unlisted-assets-help-industry-funds

27 October

Contributions and asset allocation need personalisation

Personalising contributions and asset allocation by focusing on a superannuation members’ lifestyle desires will

27 October

Financial advice

ASIC explains no action position on super advice

Superannuation funds identified as having delivered advice which might be detrimental to their members were asked

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

27 October

Unlicensed SMSF business ordered to windup

The Federal Court has ordered Secure Investments and Aqulia Group to wind up after it found Secure Investments and

The Federal Government has been urged to increase funding for the Superannuation Complaints Tribunal in the May Budget as it again struggles to meet its workload.

27 October

Institutional investment

‘Disappointingly slow’ progress on investment industry diversity

Willis Towers Watson has outlined eight steps that firms can use to improve their rate of progress on diversity.

27 October

Bravura signs contract with Aware Super

The financial services software provider has signed Aware Super to a seven-year contract to provide a suite of

22 October

Super performance test could create oligopoly

The Government’s proposed super performance test could achieve ‘mega scale’ but at a price of diseconomies of

MLC’s online technical resource visits by licensee and independent financial planners have increased by 104 per cent from the previous year since the 2016 Budget superannuation reforms. MLC said the most popular technical content developed for adviser aud

22 October

Institutional investment

Why super funds should embrace franking credits

The Australian Labor Party might have wanted to get rid of franking credits at the last Federal Election but it is

22 October

AustralianSuper wins Super Fund of the Year 2020

Super Review along with its research partner, The Heron Partnership, have announced the winners of the Super Fund

The Superannuation Complaints Tribunal received 1,739 complaints of which 91 per cent were resolved, according to its annual report.

22 October

12% of COVID-19 complaints to AFCA were super based

Most issues relating to the early release of superannuation were surrounding member identification and members “

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

22 October

Early access scheme impacted adequacy, sustainability, integrity

The COVID-19 early release superannuation scheme has forced people to choose between poverty now or poverty in

22 October

COVID-19 has stopped funds ‘spinning wheels’ with APRA

The pandemic has allowed superannuation funds to have more iterative dialogue and real conversations with the

22 October

People & products

Statewide Super appoints CTO

David Cook has been appointed as Statewide’s chief technology officer and will look to improve members’ online

First Super advisers to visit members

20 October

Financial advice

Most super advice should be classified as ‘simple personal advice’

Only superannuation advice regarding consolidating other accounts including defined benefit along with retirement

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

20 October

New APRA confirms value of group insurance

The latest Australian Prudential Regulation Authority has confirmed the value of group insurance within

20 October

Australia drops rank in Global Pension Index

Australia has dropped one place down to fourth in the Mercer CFA Institute Global Pension Index, as the COVID-19

Three-quarters of SMSF-focused advisers using platforms with established managed accounts are expecting to increasing their on-platform FUA, according to Tria.

20 October

Funds management

AMP NZWM moves to passive structure

AMP’s New Zealand Wealth Management’s new index-based investment approach will see funds transition by the first

20 October

People & products

MIESF CEO to retire

Meat Industry Employees’ Superannuation Fund chief executive, Bill McRobert, will retire in 2021 after leading the

The latest Chant West data confirms the degree to which unlisted allocations help industry fund performances.

20 October

Funds management

Macquarie outpaces rivals with $583b AUM

Macquarie Group has ranked as the largest asset manager in Australia with US$412 billion ($583 billion) in assets

19 October

Growth super funds up 2%

Median growth superannuation funds performed well in the September quarter thanks to strong international shares

15 October

Group insurance profitability takes hit

The Government’s policy changes around insurance inside superannuation has combined with the impact of COVID-19 to

“LGS is one of the first super funds to be certified by RIAA’s new program. We will receive the RIAA responsible investor trade mark for our whole super fund, which endorses our long-standing commitment to superior environmental, social and governance (ES

15 October

APRA issues warning on super fund ownership and control

The Australian Prudential Regulation Authority has written to superannuation funds warning them to get up to date

15 October

Financial advice

Stephen Jones challenges whether advice is affordable or not

The Shadow Assistant Treasurer and Shadow Minister for Financial Services, Stephen Jones, has challenged whether

15 October

Institutional investment

Expect interest rates to stay at current levels: State Street

Institutional and retail investors adjusting their expectations should factor in that the interest rates will

The Superannuation Complaints Tribunal has urged the Government to cut it loose from ASIC’s budgetary apron-strings.

15 October

Institutional investment

RBA floats possibility of further rate cut

The low cash rate will be in place for ‘at least three years’ and the Reserve Bank of Australia has indicated 0.25

ASIC has formally canvassed a ‘regulatory sandbox’ approach allowing fintech companies to test products without an AFSL.

13 October

Super performance test will promote mediocrity

The drive to be within 0.5% of an index benchmark will result in an “averageness” mindset that will reduce

13 October

Super boards need to lift governance

Superannuation boards need to focus on board skills, strategic planning, and merger scenarios, according to the

13 October

Was Govt influenced by FSC on super account stapling?

The release of pre-Budget submissions suggests the Financial Services Council was influential in the Government’s

13 October

State Super appoints body to oversee investment data science capability

To avoid biases and challenge the path of future developments, State Super has created an oversight governance

Market Insights

Themes driving the need for a more sustainable approach to investing

Themes driving the need for a more sustainable approach to investing

29 January 2021

Beyond the digital frontier

Beyond the digital frontier

25 November 2020

Finding sustainable companies that thrive

Finding sustainable companies that thrive

20 November 2020

Doing the right thing: ESG and EMD

Doing the right thing: ESG and EMD

30 September 2020

Andrew James McAlister

A much better name than MTAA, since its open for anyone. I like it.

Merged Tasplan and MTAA Super to be named Spirit Super 6 days 4 hours ago

Sue

So, not as bad as the doomsayers were leading us to believe. Any chance of a public apology from...

Australian pension assets grow despite pandemic 1 week 1 day ago

Guy

So true - our people are our greatest asset. Just as our investors and members are. We need to...

Fund mergers highlight focus on people 2 weeks 6 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 1 year 7 months 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 6 months 4 weeks ago

Axl

That's 'toe the party line'.

We aren’t anyone’s secretariat says AustralianSuper 7 months 2 weeks ago