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.

10 October

Financial advice

Pre-retirees should not neglect lifestyle considerations

Retirement planning should not only focus on finances as pre-retirees will find retirement a challenge if they

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10 October

People & products

SuperConcepts CEO role expands with transformation strategy

Chief executive Lara Bourguignon would have extended responsibilities for AMP’s wealth product and platforms as

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 October

People & products

First State Super appoints two group executives

Sarah Forman has been appointed group executive advice, while Peter Chun is now the group executive member for

Super funds should avoid under-diversifying and prioritise country selection when it comes to emerging markets, according to a fund manager.

8 October

Institutional investment

EMD is more than one asset class

Institutional investors need to consider emerging market debt as three separate asset classes to find attractive

8 October

Future Fund unsuitable to be national pension scheme

The large allocation towards private equity and alternatives and the fact that it has not performed any better

Strong support exists for independent directors on super boards

8 October

MLC Life Insurance appoints group insurance exec

Andrea Forbes has been appointed to drive customer retention and engagement for the firm’s group insurance arm.

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

8 October

Assets in SMSFs go up by $695b since 1999

Australian self-managed super fund members account for close to $750 billion in retirement savings compared to $55

MLC has made give new hires in its group insurance team following the partnership between NAB and Nippon Life.

8 October

People & products

Trio of hires at Household Capital

Retirement funding provider Household Capital has made three senior appointments across marketing and technology.

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8 October

People & products

MyState appoints interim CFO

Gary Dickson has been appointed interim chief financial officer by MyState, effective from 19 October.

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

3 October

People & products

SMSF Association appoints chair following Ralston resignation

The SMSF Association has appointed Robin Bowerman as its new chair, replacing Dr Deborah Ralston who has joined

3 October

Equity Trustees partners with CMLA

Equity Trustees has announced it has entered into agreements with Colonial Mutual Life Assurance Society, in a

3 October

Financial advice

Retirees urge certainty around retirement income review

The Government needs to avoid placing at a disadvantage people who have already retired and who have established

3 October

Simplicity of super fund more important than fees and returns

The ease of use of a fund has been found to be most important for employers choosing a default fund for employees

You can shift from engaged and disengaged to apathetic quite quickly and we’re looking to avoid that

3 October

First State Super reaches $100b in FUM

The fund has cited its growth as a result of investing in property, infrastructure, and offshore investments.

3 October

Financial advice

Liberal back-benchers dismiss Retirement Review sceptics

Key Liberal back-benchers who have previously pointed to a need for an overhaul of the superannuation system have

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

3 October

BEAR implementation needs to be human-led

Super funds looking to ready themselves for the inevitable BEAR regime should not see it as a compliance project

LGIAsuper is now available to new people outside Queensland local government employment.

3 October

Should you involve family in SMSF?

People should carefully consider before involving other family members in their self-managed superannuation funds

The Government needs to urgently review their proposed super policies as they are an issue for both higher net worth Aussies and middle Australians, Chartered Accountants believe.

3 October

Retirement income review could scrutinise other policies

The review could facilitate scrutiny of the government’s fiscally unsustainable policies, Heffron believes.

3 October

People & products

Bravura partners with fund admin outsourcer

The administrator will implement Bravura’s Australian tax platform to generate new operational efficiencies and

1 October

Financial advice

Trafford-Walker to leave Frontier Advisors after 25 years

Fiona Trafford-Walker looks to fully focus on her non-executive board roles from 6 December.

The myth that equities will always outperform in the long term is false and retirees should not set and forget, according Challenger.

1 October

Dangerous occupation members need better notification

It is unclear what legal ramifications there are for super trustees who misidentify carve out members and the

1 October

Treasury warned super fee cap can be ‘gamed’

The Federal Government has been warned that there is scope for high balance holders to ‘game’ the fee cap applied

A new survey has confirmed continuing industry fund antipathy towards self-managed superannuation funds but less certainty about how they should be regulated.

1 October

Retirement review questions asked by Alliance

The Alliance for a Fairer Retirement System has identified five questions it feels should be addressed during the

Actuarial firm Rice Warner has used its pre-Budget submission to urge a review of the Transition to Retirement pension arrangements arguing they now unduly favour high income earners.

1 October

Super industry reacts to Treasury's Retirement Review

Industry experts have reacted positively to the Treasury’s announcement of the Review of the Retirement Income

1 October

Is the 12% SG under threat from review?

Industry superannuation funds have reinforced the fact that lifting the Superannuation Guarantee to 12% has

1 October

Australia’s retirement system ranking slips

The country’s ranking in old-age dependency, interest rates, tax pressure, and government indebtedness all dropped

30 September

Energy Super drops fees

The fund has decreased fees for accumulation members by four basis points after it introduced new technology,

Investment risk

26 September

APRA needs risk-based approach to super data

Digestible investment risk data for superannuation funds needs to be standardised by the regulator, according to

26 September

Institutional investment

Europeans reallocate to UK

European investor confidence rose 18.5 points in September thanks to the FTSE rising back to pre-Brexit vote

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26 September

SMSFs look mainly to banks, BHP

There is a real concentration risk in SMSFs as most do not look beyond Aussie equities, according to Pinnacle

Volatile markets and lower investment activity has decreased AMP’s superannuation cash inflows for the first quarter of the year.

26 September

Climate change erodes investment returns

Climate change has the ability to erode super balances and increase the reliance on the Age Pension, according to

26 September

Doubling in self-reported life code breaches

Code subscribers self-reported 43 breaches during 2018-19, compared to 23 in the previous year, according to the

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

26 September

Financial fitness next epidemic for millennial women

Research from NGS Super showed that Australian millennial woman have turned a blind eye to their financial health.

26 September

Funds management

Avant grants mandate to Quay Global Investors

Medical defence organisations representing health practitioners and medical students, Avant, has backed Quay

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

24 September

Group life already feeling PYS impacts

The latest data has revealed the group life insurance market is already feeling the impacts of the Government’s

24 September

Post retirement

Retirement income products need to be flexible and certain

Current solutions need to be simplified and include engagement with members and advisers.

Lift the bar on super objective says ASFA The Association of Superannuation Funds of Australia wants the purpose of super to be a comfortable retirement, not just a supplement to the Age Pension. The Association of Superannuation Funds of Australia (ASF

24 September

Post retirement

Retirees too conservative with spending

Drawdown rules and the industry’s current aim for retirement income promotes inappropriately low spending by

24 September

Funds management

Climate change erodes investors’ expectations

Investors will need to revise their expectations downwards as a direct result of the impact of climate change,

24 September

Financial advice

Private equity demand grows ‘significantly’

Demand is growing significantly for private equity as companies change how they are raising capital, offering

24 September

Funds management

Christian Super grants mandate to Ethical Partners FM

Ethical considerations and screening as a core part of its investment process has allowed Ethical Partners FM to

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

24 September

People & products

Qantas Super appoints chief risk officer

Suzette Thurman will help the fund focus on the implementation of the three lines of defence risk governance model.

23 September

Hostplus and Club Super confirm merger

The two superannuation funds have signed a Successor Fund Transfer Deed and look merge on 1 November, 2019.

CommInsure has been selected by Prime Super as its new group insurance provider.

20 September

Sunsuper names new CEO

Former State Street Global Advisers executive, Bernard Reilly, has been named as the Sunsuper chief executive

The myth that equities will always outperform in the long term is false and retirees should not set and forget, according Challenger.

19 September

Consumer group backs dangerous occupation carve-out

Superannuation consumer group, Super Consumers Australia, has endorsed an amendment to the Government’s Putting

19 September

Cbus members most satisfied

Industry funds have increased their member satisfaction lead over retail funds with 62.8% of members satisfied by

ANZ is arguing that a six-year time limit on late notified TPD claims could drive valuable premium reductions for super fund members.

19 September

SMSFs not to be paid SG if annual returns are late

A SMSF member’s fund status will change if their annual return lodgement is not lodged in time, the ATO has

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19 September

Almost 100% of non-diversified SMSFs are invested in property

The ATO said these funds could expose its members to unnecessary risk if a significant investment failed.

19 September

Millennials using super to back climate change action

Data from millennial super fund Zuper shows young Australians are willing to use their future savings to help back

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

19 September

NGS invests in green fund

The superannuation fund has invested $170 million in an AllianceBernstein’s green strategy portfolio.

Superannuation funds can and should be allowed to play a greater role in collecting unpaid superannuation guarantee (SG) contributions directly from employers, according to major building and construction industry fund Cbus. Cbus, which found itself in tr

18 September

Unpaid super amnesty extended

Senator Jane Hume has announced an extension of legislation to establish a one-off amnesty for the historical