Super Review

Increasing SG would stem growing inequality

The legislated superannuation guarantee rises would increase retirement benefits for the lowly paid and would improve the position of the median income/median wealth sector of the economy, according to Rice Warner.

Link aims to float off PEXA

Link’s property settlements business PEXA is set to be taken to a public offering as the big superannuation administrator reshapes its business.

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.

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 “

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

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

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

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

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

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

Custodian cautions trustees not to ignore the investment implications flowing from climate change.

13 October

Funds management

IFM Investors targets net zero by 2050

The fund manager has set up a taskforce to meet the goal, which is in line with the Paris Agreement.

JP Morgan becomes largest custodian JP Morgan supplants NAB Asset Servicing as Australia's largest overall custodian. JP Morgan has emerged as Australia's largest overall custodian, according to the latest data published by the Australian Custodial Serv

13 October

How industry funds have done well out of Govt depts

Leasing office space to Government departments and agencies has delivered steady returns to industry

Australia’s income protection insurers need to be empowered to provide greater support to claimants with psychological conditions, FSC chief executive, Sally Loane believes.

13 October

Mental health support doubles during COVID-19

As people seek mental health support during the pandemic, usage of MLC Life Insurance’s Best Doctors’ Mental

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

12 October

APRA flags Budget-driven changes to heatmaps

The Australian Prudential Regulation Authority’s MySuper heatmaps are facing adjustment to accommodate the

12 October

People & products

REST appoints three to board committee

Michael Bargholz, Deep Kapur and Anne Anderson have been appointed to the board investment committee, while John

1. Industry Super Australia has warned of the long-run consequences of allowing young or lower-paid workers to opt-out of the super system. 2. The Commissioner of Taxation, Chris Jordan, has revealed that SMSFs are not the sole repository of very large ac

8 October

No third tranche of early release

The COVID-19 hardship early release of superannuation scheme will not be extended for a second time, according to

8 October

Super performance test for consumers

The superannuation performance test will allow consumers to compare “apples with apples” and will not necessarily

Long-term underperforming default funds should lose their default status, according to the Australian Institute of Superannuation Trustees (AIST). AIST chief executive Eva Scheerlinck has told the Productivity Commission review of alternative default mode

8 October

Sort out super performance before stapling says AIST

Poorly-performing superannuation funds need to be identified and weeded out before the Government embarks on

Planners are likely to focus on the country’s dual tax system when planning investment portfolios inside and outside super, according to Rice Warner.

8 October

Members ‘unlikely’ to remain in poorly-performing super funds: Grattan

While there is a possible danger of members remaining in poorly-performing super funds, this is the better option

8 October

Financial advice

One major industry fund does charge for intrafund advice

One of Australia’s largest industry superannuation funds has confirmed it actually directly charges members who

New research has been released suggesting members of retail superannuation funds are happier than their counterparts who are members of industry funds, but only if they have lower account balances. In a finding that runs counter to commonly-held beliefs,

8 October

Superannuation funds to face competitive test

Superannuation funds will have to pass an objective performance test to be able to take on new members under new

8 October

People & products

MLC Life Insurance expands group insurance team

Emily Wu, Suzie Brown and Craig Harrison have been appointed to new roles as the company expands its partnerships

The boards of Kinetic Super and Sunsuper have signed heads of agreement, giving in principle support for a merger. The final decision to merge had not been made as both funds needed to complete a comprehensive due diligence process. The funds would look

7 October

Energy Super and LGIAsuper enter merger due diligence

The due diligence would explore synergies and benefits to members and could lead to a merger to create a $20

6 October

Billions more in taxes if third early release tranche opens

Australians will be forced to pay tens of billions more in taxes and suffer lower investment returns if the

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

6 October

Hume talks of third early release tranche

Less than 24 hours out of the tabling of the Federal Budget, the Assistant Minister for Superannuation, Senator

6 October

One fund revoked or closed 100% of early release applications

While over 4.4 million initial and repeat early release of superannuation applications have been paid, there was

Trowbridge presents opportunities

6 October

Institutional investment

Super needed to exploit opportunities

The country needs to think about the impact of the size and share of the superannuation system, the biggest engine

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

6 October

People & products

Vision Super appoints deputy CEO

Vision Super’s chief investment officer, Michael Wyrsch, has been promoted to the newly-created role of deputy

6 October

People & products

SuperRatings launches comparison tool

The new tool will be available for super funds to embed on their websites to help members understand and compare

6 October

Fintech firms look at smaller super funds

Fintech firms looking for new investment opportunities could look to smaller superannuation funds to integrate

1 October

Super funds need to reconsider investment processes

Superannuation funds managing assets internally or that want to in the future will need to take a closer look at

1 October

HESTA launches gender balance initiative

The 40:40 Vision campaign has attracted eight inaugural investor signatories who will commit to achieving 40%

1 October

Vision Super reduces fees

The industry fund has managed to cut $150 million in costs from the business to allow a third reduction in fees

1 October

Ineligible Indigenous Australians accessing super early

The lack of government means testing has result in early release claims by Indigenous Australians despite their

Aged care costs300

1 October

Post retirement

Aged care needs to be self-funded through super

The aged care sector is already under stress and the super guarantee lift to 12% will help Australians fund their

1 October

Australia retains strong retirement security ranking

Australia has been ranked among the top countries in the world for retirement security for the fourth consecutive

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.

1 October

Institutional investment

Investor confidence down in September

Falls in global equity markets have driven down the State Street Investor Confidence Index down in September to 83

ASFA urges APRA not to seek to impose rigid limits on the size of superannuation fund boards.

1 October

People & products

LGIAsuper appoints director

The Queensland-based local government super fund has appointed Greg Hallam as director, replacing Matthew Bourke.

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

1 October

LGS partners with SuperFriend

Local Government Super has partnered with national workplace mental health organisation SuperFriend who will

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

Sharon Henry

Hi Mike, I read the Article in relation to MLC and Nulis Norminees. I had an account with MLC that...

NAB super entities hit by $57.5 million court penalties 2 days 21 hours ago

Tim Wilson

I hate it...

Merged Tasplan and MTAA Super to be named Spirit Super 3 days 16 hours ago

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 2 weeks 1 day 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 8 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 7 months 1 week ago

Axl

That's 'toe the party line'.

We aren’t anyone’s secretariat says AustralianSuper 7 months 3 weeks ago