Superannuation | Page 2 | Super Review

ASIC working on member reserve rules

The Australian Securities and Investments Commission has confirmed it is working on the rules around the use of member reserves.

Which super fund group received top Crown ratings?

Most of the top 10 superannuation fund groups with the highest quantitative rating by FE fundinfo were industry super funds.

The insurance in superannuation code of practice is likely to be overseen by a Code Compliance Committee with audit and sanction powers, according to a submission filed with the Productivity Commission (PC). The submission filed by the Consumer Action Law

ASIC and APRA need regulatory oversight

The increased ability of the financial services regulators to make delegated legislation means they require external oversight, according to the Association of Superannuation Funds of Australia.

Third party reliance on super underpayment ineffective

Superannuation and wage underpayment would be better addressed through employee auditors, according to industry super fund LUCRF Super and the Australasian Centre for Corporate Responsibility.

13 February

CFS urges fix for 15-year-old super choice failing

The former Howard Government never went far enough on superannuation choice in 2005 and the Government should not

Financial advisers are seeking support on how the Assets Test change will affect their Age Pension eligibility, according to Challenger.

13 February

Universal Age Pension will incentivise Aussies to save

Mercer has called for a universal Age Pension as it would create a simpler, more efficient super system with

AMP has flagged sharper communications around its roll-out of lifecycle super products.

12 February

Super funds receive ASIC rap over PYSP comms

Superannuation funds have been identified as having fallen short in the manner in which they communicated the

11 February

WTW urges caution on APRA heatmaps

The Australian Prudential Regulation Authority’s heatmaps should be treated with caution based on the narrowness

11 February

Why super is sustainable and affordable

Future Australian Government’s should accept that the superannuation system is both sustainable and affordable

6 February

Thousands lost since SG freeze

Workers haven’t seen any wage growth despite that justification being used to freeze the superannuation guarantee

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

6 February

Retirement review needs to capture member’s entire life

The Retirement Income Review needs to fully capture a member’s interaction with the system, according to PwC.

6 February

Focus on retirement phase needed

The Retirement Income Review should not neglect looking at the retirement phase and needs to encourage governments

The Federal Treasury has been urged to undertake further consultation around the development of the Government’s comprehensive income products for retirement (CIPRs) regime amid concerns that its proposed settings risk significantly eroding any potential

6 February

BetaShares proposes universal pension

BetaShares had submitted a proposal as part of the Retirement Income Review to advocate for a universal pension

4 February

Retail super funds in decline

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

Aged care costs300

4 February

Retirement review needs to look at retiree experience

The Retirement Income Review needs to look beyond fiscal and budgetary implications, according to the Association

Challenger Limited posts strong first half on back of selling annuities via super funds and platforms.

4 February

Fees and costs only one part of performance

Purely focusing on a fund’s expenses could lead to the suboptimal outcome of lost returns, according to the

4 February

Australian retirees use home equity for retirement funding

Australians should be more incentivised to be able to use their home equity in order to improve their retirement

End of the line

30 January

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

30 January

Retail and industry funds share Heron ratings

Both industry and retail superannuation funds are well-represented among the 82 fund assessed as worthy of 5 Heron

30 January

Hume questions validity of super fund fee increases

Some superannuation funds may have increased their fees simply because they had run down their administration fees

A key Senate Committee has been told it would be wrong to single out retail superannuation funds with respect to misconduct, with Treasury officials actually citing “arrangements with service providers, sponsorships, marketing activities and payments to n

30 January

Federal Govt wants industrial relations out of super

The superannuation industry is now big enough and old enough to be broken away from the “coddling’ of the

Super funds with higher fees have a higher allocation to riskier asset classes, according to CIFR.

30 January

AMP announces super fee reductions

AMP Limited has announced investment fee reductions impacting clients across MySuper, choice and cash and term

28 January

TWUSuper members largely exempt from insurance changes

The majority of members of TWUSuper would be largely exempt from the Government’s further changes to insurance

24 January

Aussie retirees need more than half a million dollars

Australian retirees will need to accumulate over a half a million dollars to escape the ‘retirement trap’,

The SMSF Association has urged self-managed superannuation fund (SMSF) trustees to apply for Capital Gains Tax (CGT) relief as there was still confusion around the implementation of the transitional rules. The association stressed that the tax return lodg

23 January

Hard deadline needed on comparable APRA super data

The Federal Government needs to impose a hard deadline on the Australian Prudential Regulation Authority to

Decrease 05-300

23 January

Balanced super funds unlikely to have strong returns

Balanced super fund returns will take a hit in the coming years as interest rates hit the bottom of the cycle,

Mercer and Virgin Money Australia have expanded its partnership with the launch of public offer super fund, Virgin Money Super today.

22 January

Government outlines extension of BEAR to super funds

Superannuation fund executives and trustees will find themselves the subject to the equivalent of the Bank

The profit-sharing obligation between super funds and insurers conflict as super funds have an obligation to pursue claims, a superannuation lawyer believes.

21 January

FSC wants no grandfathering of super industrial agreements

The Financial Services Council has urged against the grandfathering of existing workplace agreements preventing

21 January

Opt-out super a ‘blatant tax grab’: ISA

The proposal to allow lower-income earners to opt-out of super would hit NSW workers an extra $1.3billion in tax a

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

21 January

Fair Work panel needed to lift super default standards

The Government needs to appoint members to the Fair Work Commission Expert Panel to ensure that only super funds

Superannuation funds need to do more about informing their members about the circumstances under which their account balances are being eroded by insurance premiums. The Joint Parliamentary Committee inquiry into the life insurance industry has been told

21 January

Super fund ethical details not mandatory

Many superannuation fund members are unaware they are part owners in industries that might not align with their

Federal Assistant Treasurer, Kelly O’Dwyer says it is simply wrong to suggest people can still work the super system to generate multi-million dollar balances.

21 January

ANU study on SG ‘a fantasy’: ISA

A new study from the Australian National University on the super guarantee assumes that every Australian is a

The Australian Institute of Superannuation Trustees (AIST) has welcomed the digitisation of superannuation choice forms, which will allow consumers to see a list of their existing superannuation accounts or select their employers’ default fund, but stress

16 January

Make selecting a super fund compulsory says EQT

Equity Trustees has urged the Government to go further on default superannuation by making selection of a fund

16 January

ATO establishes SG legal precedent

The Australian Taxation Office has established a key legal precedent with respect to responsibility for the paying

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

16 January

Aussies believe they will outlive savings

People treat the Age Pension and their own savings differently and 53% of older Australians are worried they will

15 January

Strong super fund 2019 results will not be repeated

Superannuation funds are expected to have a solid year in 2020 but will be challenged by the low return

14 January

SG: One size does not fit all say academics

New Australian National University modelling around the superannuation guarantee has raised serious questions

Negative returns

14 January

ASIC confirms sub-$200K SMSFs generate negative returns

The average self-managed superannuation fund with a balance less than $200,000 generated negative returns over

Superannuation funds cannot be held responsible for correcting or preventing mistakes by financial planners in circumstances where they don’t know every member’s personal circumstances.

14 January

Are millennials repeating baby boomers mistakes?

Young Australians need to learn how to save for their comfortable retirement early on, to avoid repeating mistakes

Superannuation funds can and should be allowed to play a greater role in collecting unpaid superannuation guarantee (SG) contributions directly from employers, according to major building and construction industry fund Cbus. Cbus, which found itself in tr

10 January

Unpaid super to impact Victorian retirement

Victorian workers have lost more than $1.4 billion in unpaid superannuation, according to an analysis by Industry

Actuarial research house, Rice Warner, has suggested there are changes the Government could make to eliminate the unintended consequences contained in the Budget.

9 January

AMP explains changes to super structure

AMP has confirmed the simplification of its superannuation business structure and its investment practices.

9 January

Ethical super fund tops 2019 returns

An ethical superannuation fund with a low weighting to Australian banks was the top performing balanced fund in

9 January

Tasplan tops satisfaction rating

Only two of the top 10 superannuation funds leading satisfaction ratings were retail funds, according to Roy

9 January

High returns gained from European property

Superannuation funds could benefit from investing in European property, according to LGIAsuper.

The Senate Economics Committee has been told a recent NSW Supreme Court decision may have effectively altered the priority to SG debts if employers use trust structures.

8 January

Industry funds to prioritise bushfire affected members

The funds are analysing data to identify members and employers in bushfire areas to provide support.

Fire and Rescue NSW now have the support of First State Super, after being provided with a landmark investment for a new training facility.

7 January

Early release of super urged for bushfire victims

A financial planning executive has urged the Government to consider early access to preserved superannuation

Super funds continue to lag in capturing and leveraging customer data, and lack the sophisticated framework needed to make use of it.

7 January

Govt lags on super payments on parental leave consultation

The Department of Social Services has not consulted or given advice regarding compulsory super payments for

The impact of the Government’s Budget decisions will be canvassed by the Federal Opposition spokesman on Financial Services, Senator Katy Gallagher, at next Thursday’s Super Review Future of Super event in Sydney. Gallagher will be joining with Financial

19 December

Industry needs debate around intra-fund advice

The debate around the intra-fund advice within the industry is no longer to be avoided and it will be crucial for

BGL Corporate Solutions will launch the beta version of its Corporate Affairs System 360 compliance offering.

19 December

What super funds will look like in 2034

The super industry will have $7 trillion in funds under management in the next 15 years, and tech, retirement

Superannuation funds could crack double digits this financial year depending on how Australian shares perform in the final week, according to SuperRatings. SuperRatings’ latest data found that the median balanced superannuation fund option returned 10.3 p

19 December

Super funds pushed through macro noise to deliver 15%

Super funds are set to return 15% by the end of the year – the highest since 2013, according to SuperRatings.

17 December

Super funds to end year on high

Despite dampened forecasts at the beginning of the year, median growth super funds are set to close 2019 at 14.5

Standard Life and Aberdeen Asset Management have agreed to an all-share £11.3 billion ($18.2 billion) merger to create one of the largest active investment managers globally. Aberdeen said in an announcement that the combined group will be headquartered i

17 December

VicSuper and First State Super to merge 1 July 2020

The two funds have signed a formal merger deed and investments will initially be managed separately.

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

Market Insights

ESG ‘dating tips’ for asset managers

ESG ‘dating tips’ for asset managers

5 December 2019

Member insights are key to the future of engagement

Member insights are key to the future of engagement

1 October 2019

Why tax optimisation is the next fund frontier

Why tax optimisation is the next fund frontier

21 October 2019

EVENTS

Jul30

Super Fund of the Year Awards 2020

thomas williams

My OAMPS member number is 466479 .I have been looking for it for some time could you please help....

Equity Trustees acquires OAMPS from Wesfarmers 3 days 12 hours ago

Walker

The industry funds are freaking out due to the significant portion of their funds being held in...

Early access to super only as last resort: ISA 4 days 10 hours ago

Sue Allen

The precise details of the early access mechanism are outlined in the Australian Govt fact sheet,...

Clarity sought on early access mechanism 4 days 11 hours 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 8 months 3 weeks ago

Not so

The suggestion that Link would have 90% of the fund admin market is just plain wrong. The majority...

Pillar sale brings admin competition into focus 4 years 1 week ago

Graeme Officer

I RECENTLY WITHDREW MY FUNDS FROM MY ACCOUNT WITH YOU AND HAVE LOST THE DOCUMENTATION OF THE...

Qld’s LG Super becomes LGIA 3 years 5 months ago