SuperRatings has analysed super fund performance in line with the Government’s performance test criteria and found that 90% of trustee directed options are estimated to pass the test compared to 80% from last year.
A ‘Super Baby Bonus’ of $5,000 should be paid to women who take time out of the workforce to have children in order to reduce the gender gap, according to the Association of Superannuation Funds of Australia.
The Association of Superannuation Funds of Australia has called for Super Guarantees to be included in the Fair Entitlements Guarantee, which will make the Commonwealth cover unpaid super claims for employees of insolvent businesses.
Rest Super’s appointment of David Duncan to transformation, operational risk and governance, investments is aimed at supporting the transformation of its investment operating model and technology platforms.
There are three key areas where the superannuation system could be improved, according to the Australian Institute of Superannuation Trustees, as it makes 20 recommendations in a pre-Budget submission.
Senior executives of parent companies with superannuation funds within their group should be exempt from responsibility of the subsidiary, according to the Association of Superannuation Funds Australia.
TelstraSuper is concerned the draft Financial Accountability bill may give rise to a potential interpretation that employer sponsors are a “significant related entity of the fund”, making them subject to the Financial Accountability Regime.
Paul Kevin Bennetts has been banned from providing financial services for six years after asking a compliance officer to complete his Australian Institute of Company Directors assessments on his behalf.
There are uncertainties as to whether yet-to-be-legislated superannuation reforms will get a chance to be legislated before the election, such as the Retirement Income Covenant and the removal of the $450 threshold.
It is the responsibility of self-managed super funds trustees to file their tax return on time, meaning clients of failed Dixon Advisory need to act promptly to find a new provider before the deadline.
The corporate regulator has noticed an increase in marketing recommending Australians to switch to self-managed superannuation funds that invest in crypto, and has warned against some of the trappings.
CareSuper’s proposal to reserve a portion of member assets for future Commonwealth penalties, which was in response to recent law changes, has been found to be justified by the Supreme Court of Victoria.