Advisers need to understand the types of risk specific to retirees and implement strategies to minimise the risk of outliving their savings as two-thirds do not believe they are prepared for retirement, according to Fidelity International.
New data released by specialist research house Dexx&r has confirmed that the premium repricing strategies of the major group insurers have helped them cope with the Government’s insurance inside superannuation changes.
With a number of superannuation funds having confirmed investment switching by fund trustees and executives during the early COVID-19 market volatility, the Australian Securities and Investments Commission has confirmed it is examining if any breaches or wrongdoing occurred.
Nine superannuation funds, three of which are not for profits, are paying their trustee directors average six figure fees, according to data published by the Australian Prudential Regulation Authority.
Younger superannuation members and those in insurance policies with more restrictive terms and conditions may be receiving relatively low value for money, according to the Australian Securities and Investments Commission.
Actuarial research house Rice Warner has reinforced its message to the Australian Securities and Investments Commission that the regulator needs to use up to date data and analysis when providing guidance around the use of self-managed superannuation funds.
Superannuation funds with major shareholdings in Westpac will be putting their members’ investments at risk if they do not support a greater board focus on risk and compliance issues, according to veteran financial services lawyer and board candidate, Noel Davis.
The industry fund has invested in SER Capital Partners’ New York City microgrid project which will repurpose underused real estate into battery storage hubs, as part of its commitment to invest $150 million per year in renewable energy.
Industry fund, UniSuper has gone to the trouble of explaining to a Parliamentary Committee how a former senior executive of the fund switched investments around the time of the initial COVID-19 volatility.
Some superannuation funds have been confirmed as having faced a liquidity squeeze as a result of the Government’s early release superannuation regime while some members lost money by switching investments at the wrong time.