The Australian Institute of Superannuation Trustees (AIST) plans to work closely with superannuation funds to enhance fraud communications with soon-to-retire members or those switching to the self-managed super fund sector.
The announcement comes as the Australian Crime Commission embarks on a nation-wide mail-out in order to alert super members to the possibility of fraud.
"For many people, this is the first time they have a relatively large amount of money to invest. They are looking for advice and can be vulnerable to fraudsters promising retirement riches," AIST chief executive Fiona Reynolds said.
Reynolds said it was important to remember that Australian Prudential Regulation Authority (APRA) funds were not at risk.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
Add new comment