Superannuation | Page 2 | Super Review

Link declines to provide guidance in face of COVID-19

The uncertainties surrounding the COVID-19 pandemic have seen major superannuation administration company, Link, decline to provide financial guidance for the year ahead.

Global factors

The global super funds seeing 50% returns

Some 12 superannuation funds focused on global equities returned 50% or more over the 12 months to 30 April, 2021.

Merging super funds need to alleviate fee and performance concerns

The top concerns from superannuation members regarding super fund mergers is around potential fee increase, underperformance, and changes to customer service levels, according to Investment Trends.

YFYS superseding sole purpose test update

Updated guidance on the sole purpose test has been superseded by the Your Future, Your Super legislation, but the Australian Prudential Regulation Authority may still update it later.

Single sector super funds should be performance tested

The intention of the superannuation performance test is to assess products trustees had control of the design and implementation of the investment strategy and the reasons to exclude single sector funds are not justified.

Growing money300

11 May

How AustralianSuper directed nearly $19m to ISA

The millions of dollars being directed to Industry Super Australia by affiliated industry superannuation funds is

11 May

ASFA supports changes to boost super savings

The Association of Superannuation Funds of Australia has welcomed changes announced by the Government which will

ASX-listed companies need to improve their reporting of ESG risks to enable investors to make better decisions, the ACSI believes.

6 May

Active ownership best way to tackle climate change

Divestment means superannuation funds lose a voice at the table around the biggest part of the economy and its

2021-05-31 15:00:00

Knowledge Centre

Introducing the Federated Hermes Impact Database

In our view, it is imperative that all investee companies generate a positive impact that can be measured quantitatively, as well as qualitatively.

Federated Hermes

The Superannuation Complaints Tribunal (SCT) has reinforced that it remains open for business and able to deal with superannuation-related complaints, notwithstanding the Government introducing the legislation underpinning the Australian Financial Complai

6 May

UniSuper opens to new members

The super fund for the higher education and research sector, has announced readiness to open to new members from

Who understands super?

4 May

Questions reveal money directed to Industry Super Australia

Superannuation funds have confirmed to a Parliamentary Committee that they have directed hundreds of thousands of

Super roundtable

4 May

Including ‘financial’ in ‘best interests duty’ an overreach

The proposal as part of the Your Future, Your Super bill is unnecessary and clashes with existing legislative

2021-06-16 00:45:00

Knowledge Centre

From pressure comes diamonds

How industry forces will give way to a new level of maturity for alternative assets

Northern Trust

4 May

Govt needs to stop ‘dragging its feet’ on super increases

Despite the MPs earning 15.4% superannuation, the Government is dragging its feet on lifting the super guarantee

Three-in-five Australians are worried they did not have enough money in retirement, a Mortgage Choice’s study has revealed.

29 April

Drastic life changes needed if SG kept at 9.5%

If the superannuation guarantee is frozen at 9.5% the replacement rate would be 55%, compared to the assumption of

Magnifying Glass

29 April

Adviser identifies dodgy super fund outcomes assessments

At the same time as the Government looks to put a regulatory framework around the Australian Prudential Regulation

29 April

AIST calls Senate Committee to reject YFYS bill

Some of the worst-performing super products have been carved out of the performance test putting consumers at risk

28 April

Super performance test to include unlisted infrastructure welcomed

Australian unlisted infrastructure and unlisted property being included in the test will mitigate investment

When timing is everything Rollover has seen enough change in the Australian financial services industry over the past 30 years to know that no matter how good a business might look today, its value can be changed irrevocably and quite quickly by the inev

28 April

Suncorp sells its super business to LGIA Super

Suncorp has largely totally exited wealth, selling its superannuation business to LGIA Super which is currently in

Long-term underperforming default funds should lose their default status, according to the Australian Institute of Superannuation Trustees (AIST). AIST chief executive Eva Scheerlinck has told the Productivity Commission review of alternative default mode

27 April

Treasury points to 21 MySuper under-performers

Some 21 MySuper products currently on offer in the market and holding over $100 billion in funds are under-

27 April

Largest not best for absolute return super funds

The third-smallest absolute return superannuation fund has beaten the rest during the first quarter of the year

27 April

Wilson’s probing questions confirm super negativity

Questions posed via a Parliamentary Committee may have been aimed at extracting expenditure information from major

Custodian cautions trustees not to ignore the investment implications flowing from climate change.

27 April

Climate change and environment top ESG investor driver

Almost 80% of environmental, social, and governance investors intend to invest based on environmental factors over

While conducting remuneration gap analyses are on the rise, only 33.3 per cent have a specific gender pay gap equity objective, according to WGEA data.

22 April

Super gender gap widens

Contrary to popular belief, the gender gap in superannuation widened 2% in 2020 from 2016 as the early release of

Prime Minister Malcolm Turnbull appears to have shut down speculation around young first home buyers being able to access their superannuation to fund a mortgage deposit by directly referring to comments he made nearly 12 months ago that it was a "thoroug

22 April

Early super access used for mortgage payments

Far from embarking on spending sprees, the majority of those who accessed their superannuation early used the

22 April

67% of super members do not top up

There is a very real chance that many super members will fall short financially when they retire as only 20% of

Prime Minister Malcolm Turnbull appears to have shut down speculation around young first home buyers being able to access their superannuation to fund a mortgage deposit by directly referring to comments he made nearly 12 months ago that it was a "thoroug

20 April

Super fund members not interested in reverse mortgages

Government backbenchers may be advocating the use of superannuation for home ownership, but research conducted by

20 April

Balanced super funds up 2% in March

The recovery and positive returns superannuation funds experience in March is thanks to restored household

20 April

Investment, not advice is the big cost for super funds

Advice fees levied by superannuation funds are relatively insignificant when compared to administration and

15 April

Global equity super funds return best in Q1

The average global equity fund had superior returns at 6.07% during the first quarter of 2021 compared to its

The Australian Institute of Superannuation Trustees (AIST) has strongly reiterated its view that superannuation should not be used to help first-home buyers enter the housing market. Amid continuing speculation that the Federal Government is contemplating

15 April

Wilson’s loaded home deposit super questions

In a move which will raise questions about politicising proceedings, the chair of the House of Representatives

The Australian Prudential Regulation Authority (APRA) has sent a clear signal to superannuation funds that it is unhappy with director selection processes which preclude the ability of boards to reject directors who they believe are not appropriately qual

15 April

Vanguard Australia names chair of Vanguard Super

Vanguard Australia has announced the establishment of Vanguard Super and has named four directors who will join

To shore up long-term sustainability Australian Ethical has reduced super fees by 0.67 per cent, declining its net profit after tax.

15 April

LGS achieves 6 Star green rating

The industry super fund’s direct property portfolio has achieved a ‘6 Star Green Star – Performance’ rating, as

13 April

EISS Super and TWUSuper confirm merger moves

Industry super funds, EISS Super and TWUSuper have confirmed they have entered into a Memorandum of Understanding

13 April

Super funds need real-time data

Holistic and timely data will allow superannuation funds to have individualised engagement with members but, at

13 April

Member data needed at fingertips of fund representatives

Superannuation funds need the ability to understand customer needs deeply and apply predictive modelling to drive

The Australian Council of Superannuation Investors (ACSI) has call for legislation to require companies to monitor and address slavery risks in their operations and supply chains. ACSI urged the government to introduce laws that required companies to repo

13 April

REST joins anti-slavery coalition

The industry super funds joins 32 other institutional investors and super funds in signing up to the Investors

The directors of the eligible rollover fund (ERF) owned by the industry funds paid its directors a total of $225,000 last financial year, some of which found its way to Industry Super Australia (ISA). Under questioning within the Senate Economics Committe

9 April

Super performance test gives poor performing funds ‘leg up’

The test does not include admin fees and other non-investment charges which could lead to superannuation funds

The myth that equities will always outperform in the long term is false and retirees should not set and forget, according Challenger.

8 April

Significant danger in lack of YFYS detail

A key Parliamentary Committee has been warned that there are significant dangers for the superannuation industry

Collateral damage

8 April

Will Govt’s YFYS legislation force a cull of superannuation associations?

Superannuation industry associations may be facing significant consolidation as the Government’s new legislation

Lower investment fees do not lead to higher net returns, according to actuarial research house, Chant West. In an analysis of the superannuation industry celebrating the 25th anniversary of compulsory superannuation in Australia, Chant West has pointed to

8 April

Three CFS balanced funds perform best in Q1

The top-performing balanced superannuation fund returned 4.5% during the first three months of 2021, compared to

Many members of bank-owned or other retail super funds who make a choice on where to invest their super are paying more fees and getting fewer returns, according to a report.

6 April

Not easy for industry fund members to find total fees

An adviser has found that his client’s industry superannuation fund fees were over 1% higher than what was overtly

6 April

Govt lambasted over lack of detail on super performance tests

Major superannuation funds are calling for an extensive consultation process before the Australian Prudential

Superannuation roundtable

6 April

QSuper questions removing 5% asset disclosure exemption

The Your Future, Your Super proposal to remove the asset disclosure exemption may not be in members’ best

1 April

Increases to super contribution caps announced

Concessional contributions will see a $2,500 rise, non-concessional contributions a $10,000 rise, and a $100,000

1 April

Restricting trustees from making certain investments not in members’ best interests

The idea that excluding assets from a trustee’s investment universe will improve outcomes is flawed and

1 April

Spirit Super drops admin fees

The merged MTAA Super and Tasplan fund has decreased its flat rate administration fee from $1.50 per week to $1.30

1 April

Retirees are not unnecessarily frugal

Retiree spending habits appear rational and contradict the Retirement Income Review’s suggestion that they did not

Merger and acquisition300

1 April

Deloitte takes Rice Warner

Deloitte has acquired leading independent actuarial consultancy, Rice Warner.

Legislating objectives for super will put an end to ad hoc policy tinkering, AIST believes.

31 March

Most retirees do not underspend or bequeath super: ASFA

Around 80% of people aged 60 who died between 2014 and 2018 had no superannuation in the period of up to four

30 March

Delaying stapling will weaken YFYS legislation: Super Consumers

The advocacy group believes stapling should be extended to all superannuation investment options otherwise

The Australian Securities and Investments Commission (ASIC) has confirmed it has initiated a project which will closely examine life insurance within superannuation. The regulator has flagged that it intends on publishing a report on life insurance within

30 March

Super should not be responsible for insurance

A broad-based insurance scheme should be established to separate it from superannuation which will balance member

30 March

Are industry funds bullying and intimidating the Morrison Government?

Industry funds who have sponsored a major television advertising campaign against the Government’s Your Future,

LGS joined the ranks of being a responsible super fund after being certified by the Responsible Investment Association of Australasia.

30 March

Australians switching up their super

Almost a third of Australians have considered switching super funds if their provider was investing in industries

Two-thirds of industry superannuation funds are not viable if $2 billion in funds is regarded as a minimum size, according to Rice Warner. In response to the Productivity Commission’s (PC’s) draft report on alternative default models and the recommendatio

30 March

AMP warns of possibility of six dominant super funds

AMP Limited has joined the chorus of industry voices pointing to the significant unintended consequences likely to

26 March

Sunsuper looks to a second merger with Australia Post Super Scheme

Despite already signing a heads of agreement with QSuper to merge, Sunsuper is also looking to merge with the

ANZ is arguing that a six-year time limit on late notified TPD claims could drive valuable premium reductions for super fund members.

25 March

12-month deferral urged to super performance tests

The significant absence of regulatory detail means that the Government should defer its proposed superannuation

Market Insights

Introducing the Federated Hermes Impact Database

Introducing the Federated Hermes Impact Database

1 June 2021

From pressure comes diamonds

From pressure comes diamonds

16 June 2021

A professional standards framework designed to foster trust and confidence

A professional standards framework designed to foster trust and confidence

20 May 2021

EVENTS

Jul29

Super Fund of the Year Awards 2021

B Real

Insurance is crucial for any Australian who needs it. The Your Future, Your Super legislation just...

Health workers should be exempt from stapling: Jones 1 week 1 day ago

Steve

We will look into it next year. Manana, manana. However if advisers & their clients breach...

YFYS superseding sole purpose test update 1 week 6 days ago

Ethical Advisor

The discussion about a single body is positive , as a CPA I understand well how it can work....

Single advice disciplinary body to remove complexity 1 week 6 days ago

Dave Peckitt

Hi do you have any info on financial planners in perth? I'm looking to consolidate my super...

Six superannuation consultancies prove stand outs 1 year 11 months ago

Anonymous

This is the most ill informed comment I have ever seen. Why on earth would you think Superannuation...

We aren’t anyone’s secretariat says AustralianSuper 10 months 2 weeks ago

Axl

That's 'toe the party line'.

We aren’t anyone’s secretariat says AustralianSuper 11 months 1 week ago