If the superannuation guarantee is frozen at 9.5% the replacement rate would be 55%, compared to the assumption of 84% that the Government’s Retirement Income Review made, according to Industry Super Australia.
Strong listed share market returns were the main drivers of growth fund performance during August with Australian shares returning 3% and international shares returning 5.8% in hedged terms, according to Chant West.
Setting targets to reduce carbon emissions in superannuation fund portfolios will send a message to companies they are invested in to set targets themselves to help transition to a low carbon economy, according to First State Super.
The new framework from Amundi and Asian Infrastructure Investment Bank will be used to assess climate change risks and opportunities in line with three objectives of the Paris Agreement at the issuer level.
The Australian Prudential Regulation Authority has canvassed the likelihood that some already struggling superannuation funds may be forced out of the sector by the difficulties associated with the prolonged COVID-19 pandemic.
Stalling the superannuation guarantee increase will cost Australians $14.1 billion every year with the average Australian taking a $1,30 annual hit to their retirement savings, according to the Australian Council of Trade Unions.
Assistant Minister for Superannuation, Financial Services, and Financial Technology, Jane Hume needs to decide whether she will convince her colleagues to resist the “self-serving push of the big business lobby to cut the super increase”, a union believes.
The State Street Investor Confidence Index has increased this month with all major regions seeing boosts as investors continued to closely monitor the number of new COVID-19 cases and their impact on global growth.
HSBC Global Asset Management has entered into a joint agreement with climate change advisory and investment firm Pollination Group to offer investors exposure to global natural capital themes in developed and emerging markets such as forestry, agriculture and water supply.