The average global equity fund had superior returns at 6.07% during the first quarter of 2021 compared to its Australian equity and Asia Pacific ex Japan equity super funds, according to data.
Despite insurance becoming more important due to COVID-19, Treasury has not progressed with legislating universal terms and conditions in insurance within super, according to a lawyer.
A key Parliamentary Committee has been warned that there are significant dangers for the superannuation industry in the lack of detail around the Government’s Your Future, Your Super legislation.
The idea that excluding assets from a trustee’s investment universe will improve outcomes is flawed and contradicts existing law, according to AustralianSuper.
A survey of global pension markets shows portfolio resilience is prized over anything else as financial markets are expected to have a W-shaped or “accordion”-shaped recovery.
Australian investors have had their portfolios hit worse than other Asia-Pacific regions with 60% saying the pandemic had negatively impacted their finances.
Sustainable investing is on the rise, and COVID-19 has only sharpened the focus of policy makers and investors alike on the need to drive sustainability.
In yet another sign of the challenging times confronting the life insurance industry in Australia, Hannover Life Re has announced it is exiting the direct group market to focus on reinsurance.
Challenger’s chair, Jeremy Cooper, is “ambivalent” about the superannuation guarantee increase while Cbus’ Robbie Campo says the increase will benefit those that are seeing inadequate levels of retirement income.
Large Australian Securities Exchange listed companies should structure their capital raising offers to maximise access for all investors to a proportionate offer and set aside certain allocations for retail and self-managed superannuation fund investors, a panel believes.
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Retirees will be more willing to spend their superannuation if they are provided with greater certainty around Government policy and the adequacy of their retirement balances.
Superannuation funds appear likely to be included in a new Australian Prudential Regulation Authority regime requiring them to undertake independent cyber security reviews.
While setting goals is important, superannuation funds actually need specific actions on how they are going to tackle climate change, according to Aware Super.
The life insurance industry has reported a net loss after tax of $1.6 billion over the year to September, 2020, with individual disability income insurance experiencing a substantial loss, according to data.
Control, flexible investment choices, dissatisfaction with their existing fund, and tax and estate planning are the key reasons people chose to set up their own self-managed superannuation fund, according to a survey.
Investor confidence increased 10.6 points to 90.7 thanks to an improving outlook on North America following the conclusion of the US election process, according to the State Street Investor Confidence Index.
The new listed equities benchmarks excludes the highest carbon emitters locally and globally but exclusion does not necessarily mean that it is permanent.
The current economic situation potentially changes the optimal timing and speed of a superannuation guarantee increase but this should not be confused with changing the optimal long-term SG level, according to Rice Warner.
If a superannuation member believes their account balance is still too small to switch to a self-managed superannuation fund, they need to consider whether to pay a slightly higher admin fee now or a higher capital gains tax event later, according to Rice Warner.
A combination of the COVID-19-induced market volatility plus early release superannuation has seen Australia’s total superannuation assets go backwards.
Sunsuper chair, Andrew Fraser and IOOF chief operating officer, Frank Lombardo have been added to the board of the Association of Superannuation Funds of Australia.
In an unusual move, the Australian Securities and Investments Commission is taking civil action in the Federal Court to force a Gold Coast self-managed superannuation fund accountant to abide by an enforceable undertaking.
Ex-First State Super deputy chief executive, Graeme Arnott, will focus on client solutions around custody and unit pricing, member administration, and advice solutions.
The cost of retirement for couples went up 0.3% to $62,083 per year and up 0.5% to $43,901 for singles during the September quarter, according to data.
Self-managed superannuation funds have become more competitive with Australian Prudential Regulation Authority regulated funds over the past seven years but having a solid starting balance still remains the key.
The Government’s Retirement Income Review has been welcomed but the industry has differing views on the superannuation guarantee increase and accessing home equity to fund retirement.
Up to a third of superannuation fund members find themselves ‘confused and overwhelmed’ with respect to insurance inside superannuation and could use the help of a financial adviser if they knew where to find it.
There has been a trove of superannuation funds that reduced their fees this year but the ones that increased fees have pointed to the Government’s Protecting Your Super package as the reason.
The Protecting your Super and Putting Members’ Interest First legislation has increased the underinsurance gap in Australia as group insurance inside super has dropped 27% for death and 29% for total and permanent disability cover, according to Rice Warner.
Factors such as broken working patterns, part-time work, and the tendency to be lower paid that contribute to inequality in women’s superannuation rather that the superannuation guarantee, according to the Association of Superannuation Funds of Australia.
Around 700,000 Australians will receive a payment from the latest round of consolidating lost and small inactive super account balances before the end of the year, according to the Association of Superannuation Funds of Australia.
Investors should provide incentives for companies to directly report their emissions as third-party estimated emissions data is 2.4 times less effective in identifying worst emitters, according to Research Affiliates.
Australian investors should consider opportunities in the global small cap space for a better diversification given that global small caps performed better than the same sector in Australia.
The importance of maintaining default insurance was even more important given the Government’s proposed “stapling” superannuation measure, according to Cbus.
The positive return in October was largely due to the 1.9% return in Australians shares and the depreciation of the Australian dollar limiting the loss experience by international shares, according to Chant West.
The corporate watchdog’s consultation paper is an important step forward but the limited licence regime needs to be redesigned to provide scaled advice for self-managed superannuation fund members, the SMSF Association believes.
While the new policy targets net zero carbon emissions by 2050 there is nothing to stop the fund from reducing climate impacts of its portfolio in the short-term, according to Market Forces.
The superannuation fund will reduce member fees from $1.50 per week to $1 a week as a direct result of its administration partnership with Tech Mahindra.
While recovery in superannuation funds has been faster and stronger than expected, members still have not been able to fully recover losses since the pandemic brought turmoil to markets in March, according to Super Ratings.
It is now officially illegal to hawk a member of a MySuper product into a choice product offered by the same fund and this will ultimately boost retirement savings of Australians, according to Super Consumers Australia.
The difficulties brought by the COVID-19 pandemic has been reflected in the fact that only 10 balanced super funds have managed to make a return so far this year, with the top performer returning 6.4%.
The Australian Securities and Investments Commission is investigating a range of investment switches undertaken by trustees and executives of major superannuation funds.
Advisers need to understand when they should advise clients to either take money out of super or to leave it in when it comes to excess concessional and non-concessional contributions, according to Heffron.
Superannuation funds could be rewarded in investment performance by tax-managing its responsible investing while holding companies to account, according to Parametric.