Superannuation

Superannuation

Super’s purpose still ill-defined

Treasurer Frydenberg has delayed outlining the government's intensions relating to the superannuation system by not defining its purpose during his budget speech and papers on Tuesday night.

Matthew SmithMay 17, 2021

Superannuation

YFYS performance test tweaks to enhance accuracy, transparency

The inclusion of administration fees and benchmarks for unlisted infrastructure and property investments headline amendments to the Your Future, Your Super draft regulation. While flaws remain in the design, most believe the performance test has been significantly upgraded.

Tahn SharpeApril 28, 2021

Superannuation

Suncorp finalises wealth exit with sale to LGIA Super

The sale of Suncorp’s remaining wealth business was the outcome of a strategic review which began last February last year and continues the Queensland financial institution's wealth exit which began in 2015 with the sale of its financial planning business.

Matthew SmithApril 28, 2021

Superannuation

Hume keeps door open on super contributions freeze

The minister reiterated the government’s plan to make a call on the SG rise closer to July 1 when the “trade off” with wage growth is clearer, while shadow minister Stephen Jones said the current level “just won’t get us there”.

Tahn SharpeJanuary 29, 2021

Superannuation

Lack of industry consultation on super ‘crazy’: ALP’s Jones

The Labor MP expressed support for some kind of a performance benchmark to hold underperforming funds to account, but he said the government’s current proposal falls short during an interview on Monday.

Matthew SmithNovember 2, 2020

Superannuation

Stapled super to pile pressure on small to medium sized industry funds

While super stapling is a natural industry progression and a plus for consumers, the changes will curb some of the benefits smaller industry funds rely on to survive, which could further accelerate merger activity.

Tahn SharpeOctober 7, 2020

Superannuation

Court slaps $50M fine on MLC trustee

In ASIC's largest ever civil action, MLC Nominees and Nulis Nominees have been lumped with a combined $57.5 million worth of penalties after they duped hundreds of thousands of superannuation members into paying for advice that wasn't provided.

Tahn SharpeSeptember 14, 2020

Superannuation

Intra-fund is no substitute for holistic advice

The emerging advice gap has reinvigorated industry discussions about the future of advice and the part super fund advisers will play. While intra-fund advice plays an important role in the financial system, the data shows it is no substitute for full service financial advice.

Jason AndriessenSeptember 8, 2020

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