Changes to the Assets Test affecting Age Pension eligibility are top of mind for financial advisers seeking technical and strategic support, according to Challenger.
The investment management firm found the top three queries during the December 2015 quarter were:
Challenger general manager for advice services, John Carnevale, said "social security continues to be top of mind for advisers and their clients considering that around 75 per cent of Australians 65 and up qualify for at least a part Government pension to supplement their income".
"It's no surprise then that advisers are seeking clarification and support around how their client's strategies and potential Age Pension eligibility will be impacted by the changes," Carnevale said.
"More than anything, it's about being in a position to inform clients, have a conversation about what the changes mean and manage you clients' ongoing expectations."
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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