POWERED BY MOMENTUM MEDIA
Super funds will determine ‘dangerous occupations’ carve-out
Superannuation funds themselves will be the ones who decide which members will be covered by the Government’s so-called “dangerous occupations carve-out” to its new insurance inside superannuation rules.
Treasury Retirement Income Policy Division head, Robert Jeremenko has told the Association of Superannuation Funds of Australia (ASFA) national conference in Adelaide that the Government expects superannuation funds will know which of its members are employed in dangerous occupations.
He defined dangerous occupations as being those which have a higher statistical likelihood of injury.
The “dangerous occupations carve-out” was announced by the Assistant Treasurer, Stuart Robert in an address to the opening session of the ASFA conference on Wednesday.
The carve-out will assist some funds who have large numbers of members employed in dangerous jobs with other funds now having to adjust to having members aged under 25 or with balances under $6,000 having to ‘opt-in’ to insurance inside superannuation.
Recommended for you
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
Brighter Super is considerably scaling down the investment options it offers members in order to reduce costs.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
33.20 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.82 3 y p.a(%)
Add new comment