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.
There are expected to be eight funds with more than $125 billion in funds under management by 2025, according to KPMG, and funds’ frameworks will need to adapt to cope.
It would be more effective for superannuation funds to focus on building an attractive default fund than spending money to try to engage members in the accumulation stage, according to EY Australia.
Stockspot's founder has thrown doubt on Hostplus’ 2022 financial year returns, highlighting a need for greater transparency of holdings within the industry.
Part of the Royal Commission final report, former Commonwealth Bank subsidiary Avanteos has pleaded guilty to 18 criminal charges which included charging fees to deceased members.
Christian Super has been imposed with additional licence conditions after it failed the MySuper performance test with the prudential regulator requiring it to implement a strategy to merge with a larger and better-performing fund.
The next chapter in driving growth for asset management will mean anticipating change and evolving for the future. Learn how the most successful asset managers will focus their resources.
Superannuation innovation post-mergers will look similar to the banking industry with several big players competing for dominance against a backdrop of technological disruption, according to a fintech.
The prospect of regulatory changes is impacting peace of mind for many Australians either heading towards or in retirement, according to Investment Trends.
Analysis of investment switching during the COVID-19 pandemic has found poor decisions have been made due to the absence of advice, with older members and women the most affected.
One of the fund’s members has questioned the way it has assessed the climate risk of the $1.4 billion invested in Vanguard index funds given it had been internationally criticised for its climate risk management.
Self-managed super funds have grown to 1.1 million members and Equity Trustees are reporting a rise in legal disputes and calling for trustees to adopt solid succession plans.
Superannuation funds and product providers creating retirement income products should look to create effectively default products as products requiring advice will not be sustainable, according to a panel.
Superannuation trustees could be subject to new standards by the prudential regulator that aim to strengthen preparedness when responding to future financial crises.
Trustees will need to focus on understanding membership, design and distribution obligations, member education and advice, and compliance and governance to be able comply with the Retirement Income Covenant, according to KPMG.
Superannuation funds should use artificial intelligence to address individual and current business challenges rather than consider it through an academic lens.
With the Your Future, Your Super signalling the end of default membership flows, the potential of a superannuation fund’s chief marketing officer to leverage data is rising.
Seven of the biggest superannuation funds with net zero commitments have voted against two or more key climate-related proposals in Australia since September, according to Market Forces.
Merger and regulatory trends have stretched the resources of super funds to the point that it has stifled technology adaptation and cracks are beginning to show, according to SS&C Technologies.
QSuper will have to communicate clearly with members of Sunsuper, ahead of their merger in February, that they could be liable to pay a fee for fines or penalties incurred by the fund’s activities.
AMP Limited will look to “better serve” the retirement market and take its products direct to clients following the demerger with AMP Capital’s private markets business.
Superannuation funds will need to educate their entire staff to leverage the entire benefits of an imminent technology revolution, according to a panel.
Super funds should re-engineer their operations rather than just digitalise manual processes if they want to catch up to other industries, according to a panel.
Only 5% of surveyed funds conduct risk assessments of supply chains beyond tier one of assets despite modern slavery being more likely identified at tiers three and four, according to JANA.
After a relationship with Pendal’s US business for the last decade, the relationship has been extended to provide asset services to its Australian, UK and Irish businesses.
The class action alleges QSuper failed to notify members of changes to its life insurance premiums which resulted in financial loss for up to 140,000 members.
The Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 has been introduced to Parliament and will codify the the obligations for trustees to improve retirement outcomes for members.
The self-managed super funds trustees are looking at new investment options such as listed and unlisted trusts, managed investments and private real estate debt, according to AltX.
The prudential regulator will not be issuing extensive or detailed guidance on retirement income solutions in the short-term as it wants to give the industry time to develop approaches.
In response to the Government’s ‘Section 56’ amendment which would affect industry super funds, CareSuper has proposed to reserve a portion of its assets to help pay for future federal law breaches.
The complaints authority has received over 5,000 superannuation-related complaints last financial year and was able to close over 6,000 of its complaints.
Following the extension of self-managed super fund COVID-19 relief, the SMSF Association is urging self-managed super fund holders to seek specialist advice to assess their eligibility for the measures.