Super Review

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.

WTW urges caution on APRA heatmaps

The Australian Prudential Regulation Authority’s heatmaps should be treated with caution based on the narrowness of their data and timeframes.

Thousands lost since SG freeze

Workers haven’t seen any wage growth despite that justification being used to freeze the superannuation guarantee, according to a report from Per Capita.

Retail super funds in decline

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

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 actuarial research house, Rice Warner.

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.

5 November

Institutional investment

Investor confidence declines in October

Confidence dropped 0.9 points to 79.2 as US investors react to deepening geopolitical risks, according to State

1 November

When PJK calls a spade a bloody shovel who gets buried?

You know there’s a stoush looming on the future of superannuation in Australia when former Prime Minister and

1 November

Reacting to regulatory writings

Rollover has a certain amount of sympathy for Colonial First State and the other superannuation fund trustees who

1 November

Superannuation women leading from the front

Rollover wishes to offer his heartiest congratulations to the teams at industry funds HESTA and Cbus for doing so

After six years Equip CEO, Danielle Press, will be leaving the fund for the Myer Family Company.

31 October

Post retirement

Means test changes an opportunity says Challenger

Challenger has confirmed that it is seeing more opportunities from the Government’s Age Pension means test changes

31 October

Post retirement

CIPRs holding back retirement income review

Excluding CIPRs from the review will allow the creation of sensible policy to develop faster, according to

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

Proposed new portfolio disclosure holdings requirements will force super funds to more clearly disclose the value of direct and unlisted investments.

31 October

Super funds get 12 months’ grace on portfolio holdings

The Government has failed to deliver the necessary legislation and regulation to compel superannuation funds to

31 October

Gender equality in super could be reached in 10 years

The gender gap in superannuation improved during September and has a current growth rate of 3.06%, according to

31 October

Statewide wins employee engagement award

The SA-based industry superannuation fund has an employee satisfaction rate of 78% thanks to flexible working

31 October

People & products

Life/risk focused group see potential for growth

Newly-merged MBS Insurance and Complete Risk Analysis see potential for growth in the life/risk space despite the

Life insurer TAL has appointed Glenn Baird to the newly created role of head of mental health. The appointment aims to expand TAL’s ability to understand, manage and support mental, physical, and financial health of its people and its customers. TAL gen

31 October

People & products

TAL launches online mental health program

The life insurer has launched BEACN to help superannuation fund partners improve their clients’ mental health.

While conducting remuneration gap analyses are on the rise, only 33.3 per cent have a specific gender pay gap equity objective, according to WGEA data.

31 October

People & products

Fund launches to tackle gender gap

The current super system is failing women tremendously and is a blind spot leaving women at great risks of poverty

Research and ratings group, CANNEX points to recent group premium rises not being mirrored in the advised life/risk space.

29 October

Life products need simplification

Life insurers need to simplify their products and solve their technological legacy issues to retain and increase

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

29 October

APRA on heat maps – listening but not consulting

The Australian Prudential Regulation Authority has declared that while it will accept feedback it has no intention

29 October

Closure of SG loophole welcomed

Accountants and other industry participants have welcomed the closure of the loophole which allowed unscrupulous

29 October

People & products

NGS Super appoints product manager

Quyen Woodrow has been appointed as product manager by the non-government education and community industry super

29 October

Institutional investment

TCorp’s green bond shows sustainable outcomes for NSW

A new report on TCorp’s inaugural green bond programme has outlined the impact the financing of the projects has

A further study from the Centre for International Finance and Regulation has backed the need for independent chairs on superannuation fund boards.

29 October

LGS appoints two independent directors

Local Government Super has appointed its first independent chair and first female independent director.

29 October

Bill Kelty: Fix wages, not super

One of the founders of Australia’s superannuation system says it’s not the system that needs to be fixed, but

29 October

Iress to deliver automated admin to ESSSuper

The super industry needs to evolve its transactional functions to be fully automated to provide super members

24 October

ASIC challenged on ‘scary’ SMSF factsheet

A key parliamentary committee chairman has challenged the Australian Securities and Investments Commission on

24 October

Transparency on societal outcomes essential

It is no longer enough to talk about process when it comes to how super funds are reporting their societal

24 October

Outstanding women awarded

Super Review and Money Management awarded 12 women and an employer at the annual Women in Financial Services

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

24 October

Loane calls for implementation of ‘default once’ system

Financial Services Council chief executive Sally Loane has called on policymakers to implement a ‘default once’

QSuper has worked with the ATO to help pay out a member’s tax savings when they retire and transition to an income account.

24 October

Tasplan reaches $10b in FUM

The Tasmanian-based industry super fund pointed to its agile approach to change and commitment to implementing

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

24 October

Zurich secures Energy Super mandate

Zurich has secured a group insurance mandate from Queensland-based industry super fund Energy Super.

24 October

Three years jail for illegal SMSF operation

A man operated an illegal SMSF and issued an unlawful early release of super funds for 25 people.

AIA is now the life insurance market leader thanks to its acquisition of CommInsure as it now has a combined $3.9 million, or 25 per cent, in in-force risk market share, according to DEXX&R. DEXX&R’s latest life risk sales report over the year to June 201

22 October

Nearly half a million opted to retain insurance inside superannuation

New analysis from the Association of Superannuation Funds of Australia has revealed that close to half a million

22 October

Advice key to means-testing and DLA strategies

Appropriate and cost-effective advice is crucial to helping retirees navigate means-testing and the efficacy of

A superannuation fund has found to its cost that there is no statute of limitations on administrative errors.

22 October

ASIC should withdraw its 'misleading' SMSF factsheet

The Australian Securities and Investments Commission’s SMSF factsheet contains ‘an array of seemingly deliberate

22 October

Australia’s retirement system ranked third in world

While the country’s retirement system needs better integration between the Age Pension and superannuation it ranks

22 October

SMSF members reaching aspirational retirement lifestyles

SMSF members are saving well above the comfortable retirement standards, according to Accurium.

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

22 October

Super members miss out on after-tax alpha

Super funds should tailor their portfolios for pension phase investors to take advantage of after-tax alpha.

22 October

People & products

NGS Super adds new liquid assets manager

Melinda He has been appointed as manager – liquid assets to assist with the equity, fixed income and liquids

21 October

Super funds encouraged to consolidate

Equip and Catholic Super are ‘getting on with it’ when it comes to merging and is encouraging other funds to merge

The average delay in superannuation funds and their insurers dealing with a total and permanent disability (TPD) claim is around two years, according to the Australian Institute of Actuaries. The Institute has used its submission to the Productivity Commi

17 October

Significant design and claims handling issues in TPD found

ASIC has found that 60% of ‘activities of daily living’ claims are declined and AMP, Asteron, and Westpac had

17 October

Super funds ready set for good start to 2019/20

The median growth fund returned 2% for the September quarter, according to Chant West.

17 October

Private sector needs to free up capital for sustainable future

First State Super is one of 30 firms that have joined a UN alliance in a bid to deliver Sustainable Development

17 October

Funds management

Assets under custody sees jumps to $3.7t

Assets under custody has increased 4.2% over the last six months, according to the latest figures from the

The current default super regime has hampered women in engaging in their super, according to Financial Services Council chief executive, Sally Loane.

17 October

People & products

Platform launched to top up super while spending

Super Rewards has been launched to help address the gender gap in super by helping women top up their super while

15 October

Forget best in show, APRA is focused on cellar dwellers

The Australian Prudential Regulation Authority is more focused on getting rid of the superannuation industry

The ‘merry-go-round’ of superannuation policy change has to end, the Senate Economics References Committee has been told.

15 October

Women’s outcomes left out in Retirement Income Review

Women in Super has called for women to be included in the Government’s Retirement Income Review.

Funds and fund members needed to understand both the benefits and compromises that came with deferred lifetime annuities (DLAs), according to Frontier Advisors and Milliman.

15 October

ASIC’s SMSF calculations distorted

Running a SMSF is $8,900 cheaper than what ASIC believes, according to the SMSF Association.

15 October

Third gen DC plans to emerge in 5-10 years

Research from the Thinking Ahead Institute showed the future of defined contributions systems are crucial in the

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

15 October

People & products

UniSuper appoints COO

Former NAB executive, Kevin Roadnight, has been hired for the role and will commence on 18 November.

11 October

SMSFs not suitable for everyone

The Australian Securities and Investments Commission has identified eight red flags which would make it ‘extremely

Industry Super Australia (ISA) has called on the Government to defer the implementation of the corporate regulator’s new Regulatory Guide 97 (RG97) on new fee and cost disclosure rules to take effect in less than a week. ISA said RG97 was fundamentally fl

10 October

ISA: Grattan SG modelling ‘based on fantasy world’

ISA’s analysis of an increase in the super guarantee to 12% would leave workers with $50,000 more than the Grattan

10 October

Life insurance professional standards framework to be established

ANZIIF and LIPSWG have agreed to create a professional standards framework for the life insurance industry in a

Better performing equity markets combined with a depreciating Australian dollar point way towards positive financial year for super returns.

10 October

Super funds recover from August’s falls

The median balanced superannuation funds returned 0.5% in September, according to research house SuperRatings.

Cyber security300

10 October

Super funds need to increase data management protection

The rise of ‘mega-superfunds’ and ‘mega-data’ should be a catalyst for super funds to make meaningful investment