Superannuation

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

Superannuation

ASIC fine with extra advice fee compliance doc

The regulator has confirmed it is aware super funds are sending letters out to licensees asking them to confirm that every member has received the advice they paid for before the fund will release the fees. But ASIC’s blessing came with a warning.

Tahn SharpeAugust 19, 2020

Superannuation

Local super industry leading the world on mental health during Covid-19

It is a difficult time, but also a time of excitement for mental health advocates, who say Covid-19 is catalysing deep change among business leaders, policymakers and the broader community in how to address mental health.

Ben HurleyAugust 17, 2020

Superannuation

Carden Calder has shown her greatest strength at home

Because hearing people talk about their personal challenges has been an enormous help to Carden Calder, the communications executive has decided to open up about her own personal situation in the hope it will help others too.

Ben HurleyAugust 17, 2020

Superannuation

Let RoAs cover basic questions for non-advised members: ASFA

The super fund association will lobby for all advisers – fund or otherwise – to be able to use RoAs for a specific set of common member enquiries, regardless of whether an SoA is in place.

Tahn SharpeAugust 11, 2020

Superannuation

Superannuation: an industry tearing itself apart?

Any industry which cannot work through its infighting to resolve industry challenges is likely to be viewed skeptically. Of course, for superannuation the majority of contributions are mandatory: this should be a sector where self-interest doesn’t exist.

Colin TateAugust 10, 2020

Superannuation

Funds lambasted by ASIC for marking members as default smokers

ASIC's Danielle Press said the funds that have remediated members have 'heeded' lessons from the royal commission. To date, the same can't be said for AMP, IOOF and Suncorp.

Tahn SharpeAugust 7, 2020

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