Superannuation | Page 2 | Super Review

WTW urges caution on APRA heatmaps

The Australian Prudential Regulation Authority’s heatmaps should be treated with caution based on the narrowness of their data and timeframes.

Thousands lost since SG freeze

Workers haven’t seen any wage growth despite that justification being used to freeze the superannuation guarantee, according to a report from Per Capita.

Retail super funds in decline

Retail superannuation funds once dominated in terms of assets held in the industry, but those days are gone.

Call to end the legalese around super products

There has been too much confusion around superannuation products because of an excess of legalese, according to actuarial research house, Rice Warner.

Growing money300

17 December

Zurich’s OnePath wins Qantas Super from MLC

Zurich has reasserted itself in the group insurance space via its OnePath acquisition picking up the Qantas Super

Life insurance (5)300

13 December

Super industry needs to improve life insurance outcomes

The superannuation industry has been urged by the Australian Securities and Investments Commission to focus more

following a competitive selection process.

12 December

APRA names heatmap consultants

The Australian Prudential Regulation Authority has named the major consultancies which assisted with its heat map

12 December

APRA accused of inappropriate heatmap comparisons

The Australian Prudential Regulation Authority had failed to appropriately compare apples with apples in its

MLC has reiterated the need for measurable and adequacy-based superannuation objectives for certainty, with research showing 66 per cent of Aussies were unprepared for retirement.

12 December

SuperRatings to APRA on heat maps – WHY?

The founder of one of Australia’s first dedicated superannuation fund research and ratings firms has suggested

New research suggests superannuation funds should deploy intra-fund advice platforms alongside administration.

12 December

Aussie super funds need to embrace tech

Many of Australia’s super funds face significant threats to their viability, including poor returns, inefficient

2019-12-04 21:15:00

Knowledge Centre

ESG ‘dating tips’ for asset managers

What does an asset owner look for in an asset manager to help them navigate sustainability and ESG investing?

BNP Paribas

Superannuation trustees have been issued with another reminder to communicate clearly with members, with a Superannuation Complaints Tribunal (SCT) determination overturning a trustee’s decision relating to a family law split and ordering substantial rest

12 December

Super splitting should be simpler

The process of splitting super assets when relationships end should be simpler and help women from claiming their

Cyber security300

12 December

Mega funds to fuel tech and cyber-security attention

Chief risk officers and chief technology officers will acquire greater budgets and significance in a fund’s

APRA chairman, Wayne Byres has confirmed the regulator is pursuing related party issues based on the Trade Union Royal Commission findings.

10 December

Don’t rank super products via APRA heatmaps: FSC

Super members should not rely on simplistic league tables that may be published as they do not tell the whole

Calculator piggy-300

10 December

More consistent variables in retirement calculators needed

Assumptions in retirement income projections provided by super funds need to be reviewed and made more consistent

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

10 December

APRA publishes MySuper heatmap

Trustees of the worst performing products have been contacted by the Australian Prudential and Regulation

9 December

APRA approves IOOF’s bid to buy OnePath and Oasis

IOOF structural changes enhanced its registrable superannuation entity licensees’ ability to comply with fiduciary

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

5 December

20 funds facing immediate heatmap pressure

Twenty under-performing superannuation funds are facing almost immediate heatmap pressure from the Australian

5 December

RG 97 does not protect members on platforms

The fee and cost disclosure guidance exemptions make it impossible to compare platforms and non-platform

Labor will seek to claim funds from dormant superannuation accounts to pay for spending if they are returned to power, a Government whip warns.

5 December

APRA reluctant to name heatmap advisers

Superannuation fund heatmaps may be one of the most significant new challenges to confront superannuation fund

5 December

High allocations to growth not a ‘poor strategy’ for pre-retirees

Super members approaching retirement still experience improved outcomes from high allocations to growth assets,

Investment committees and boards tend to take environmental, social, and governance (ESG) issues as a bundle when E, S, and G are not created equally, according to Northern Trust Asset Management. The firm’s senior vice president, head of asset management

5 December

Responsibly invested super funds outperform peers

Australian super funds that invest responsibly tend to outperform their peers since responsible investment is no

Rice Warner argues that the super debate has become complicated by discussion on complex contribution caps and lifetime contributions.

3 December

APRA choice heatmaps will come at a cost

Extending the Australian Prudential Regulation Authority’s heat maps to choice products is complex and will come

3 December

Super fee disclosure guide will 'bamboozle' consumers: ISA

The attempt to improve RG 97 by the Australian Securities and Investment Commission still requires a measure that

Income protection300

3 December

Super consumer advocacy body EOI opens

The establishment of a superannuation consumer advocacy group will fill a critical void in super policy debates by

28 November

APRA needs to get heat maps right before going public

A roundtable of senior superannuation industry executives has declared that the Australian Prudential Regulation

28 November

Which super fund has the best capital preservation?

QSuper Balanced superannuation fund has topped the charts in max drawdown, return, and volatility, according to FE

An international sustainability benchmark for infrastructure assets will allow pension funds to invest more capital into projects, a group of global institutional infrastructure investors

28 November

Will heatmaps become benchmarks?

The Australian Prudential Regulation Authority’s new heatmaps may be highly fund specific, but the regulator is

The AIST has joined other super advocacy groups in welcoming the Government’s move to enshrine super in legislation, saying it would prevent ad-hoc changes to super policies.

28 November

FSC welcomes default super bill

The bill will allow Australians to choose the super fund their super entitlement is paid to, which under current

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

26 November

ISA outs underperforming industry funds

Industry Super Australia has named industry funds it believes are underperforming making clear they are not

26 November

Members will be poorer if unlisted asset values are published

Potential unlisted asset buyers will have a market advantage if figures are published and will act in a way that

26 November

Retirement Income Review consultation welcomed

The review is an opportunity to improve retirement outcomes for Australians, the Association of Superannuation

A letter from both APRA and the ATO has spelled out the degree to which super funds will have increased interactions with the ATO via SuperStream mechanisms.

21 November

APRA letters generate heatmap questions

The Australian Prudential Regulation Authority is facing some pointed questioning from super fund executives about

The FSC wants the superannuation guarantee increased to 12 per cent within six years.

21 November

Research paper supports lifting SG

An Australian Institute research paper has sought to debunk the arguments of those opposing lifting the

Industry and retail funds turned in very similar investment performances during a challenging September quarter.

21 November

We treat retail and industry funds equally says ASIC

The chair of the Australian Securities and Investments Commission, James Shipton has declared the regulator treats

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

21 November

Multiple account clean up brings more savings to industry fund members

Millions of industry super fund members will benefit from more savings under multiple accounts clean up, according

21 November

Super funds set to end 2019 on double digit returns

Returns have been significantly better than expected at the start of the year and October returns benefited from

A recent survey has confirmed that dealing with digital disruption is high on the agenda for financial services executives. The survey, conducted by SuperRecruiters and Riskwise Professionals rated digital disruption only behind market volatility as an ar

21 November

BNP Paribas Securities Services takes stake in AssetMetrix

The stake will allow the BNP Paribas Group subsidiary to expand and digitise its services to private capital

19 November

Sunsuper not acting in members best interest: lawyer

The fund is now the only major not-for-profit fund that does not allow members early access to super on grounds of

19 November

APRA heatmap should not deter from member outcomes assessment

Super fund trustees should look at how each heatmap metric could be incorporated into the fund’s member outcomes

With legislation changing the ‘lost super’ threshold casual and seasonal workers are in particular at risk of their funds being transferred to the ATO, according to AIST.

19 November

ATO hopes to reunite over $20b in lost super

Data from the Australian Tax Office showed it had consolidated over $4.4 billion in active, lost and unclaimed

Superannuation funds and their custodians are facing substantial new costs as a result of the superannuation tax changes announced in the last Federal Budget. Just a week out from the 2017/18 Federal Budget, the Association of Superannuation Funds of Aust

19 November

Costs are paramount in investing in risk premia

As returns diminish, despite costs being the same, risk premia strategies may no longer always be justified to run

15 November

No excuses left for super funds not to merge

Senator Jane Hume has sought to dispel myths and excuses trustees have used to avoid merging.

15 November

Six shades of red and yellow for APRA’s heatmap

APRA’s heatmap will include four investment performance measures that reflect the level of growth or defensive

Self-managed superannuation fund (SMSF) members in the pension phase should not overlook their compliance obligations as they relate to pension payments, the SMSF Association has urged. The association said pension phase members needed to ensure they had

15 November

Pension taper rates, not super are the problem

The Government would be well-advised focusing on Age Pension taper rates rather than superannuation within its

15 November

APRA, ASIC to share data

In a bid to lift regulatory burden on super funds the two regulators are looking to share data for areas of common

Global investor confidence dropped 8.3 points in August with poorer than expected earnings taking the wind out of US institutional investors’ sails, according to State Street.

14 November

Little high confidence on member outcomes assessment

Less than a quarter of trustees are ‘very confident’ they can deliver their member outcomes assessment on time, a

14 November

Super funds regain momentum

Super funds are expected to have a positive start in the December quarter and deliver double-digit returns for the

Lift the bar on super objective says ASFA The Association of Superannuation Funds of Australia wants the purpose of super to be a comfortable retirement, not just a supplement to the Age Pension. The Association of Superannuation Funds of Australia (ASF

14 November

Retirement income modelling needs to be publicly released

The retirement income review’s model will be able to dispel the contagious false narratives such as spiralling

12 November

Fixing implementation leakages would boost returns

Retiree fund members would benefit twice as much if super funds cleaned up implementation leakages, according to

LT Management has paid a $10,800 infringement notice penalty after the corporate regulator found it made potentially misleading statements about the cost of setting up a self-managed superannuation fund (SMSF) using the services of RS Capital Partners, tr

7 November

Industry funds ASIC infringements just $25,000

Only two industry superannuation funds have been served with Australian Securities and Investments Commission

7 November

Drought elevating retiree costs

Costs for retired couples at both comfortable and modest levels up 1.5%, according to ASFA.

7 November

Actuaries develop drawdown rule of thumb

The ‘rule of thumb’ could help guide retirees to establish how much they need to drawdown from their

6 November

ASIC acts against super fund on general advice

A superannuation fund has found itself in the Federal Court over Australian Securities and Investments Commission

5 November

Qld Govt attitude central to Sunsuper/QSuper merger

The history of superannuation in Queensland is such that the attitude of the State Government will be important to