Australian Superannuation & Retirement Fund News

Industry news

Legacy pensions overhaul welcomed

The SMSF Association has welcomed the Federal Government’s amendments to allow the partial commutation of certain

13 January

The Australian Taxation Office has sought to defend its administration and systems in what is emerging as Australia’s largest-ever tax scam.

Money Management Original

323% increase in super scam reports

2020 was the year of the Government’s hardship early release superannuation scheme and it was also a year during

12 January

The AFA has voiced concerns ASIC’s industry funding model would pass costs aimed to remediate poor advisers on to all advisers.

Money Management Original

Did Superstream cost more to implement than it returned?

Superannuation funds have told a Parliamentary Committee that the costs of implementing Superstream were so high

11 January

Money Management Original

Early release of super scheme hits $35.9b

There were a further 21,000 superannuation members who applied for the early release of their super in the week

7 January

The Minister for Revenue and Financial Services, Kelly O’Dwyer has confirmed the Government’s desire to pursue a comprehensive overhaul of the superannuation system.

Industry news

Proposed super laws inadequate: AIST

The Government needs to address underperformance in the superannuation system before stapling of super accounts

6 January

The number of super funds dropped 72 per cent to 244 in 10 years as funds were attracted to the idea that scale could provide more member services without increasing charges, according to Rice Warner.

Industry news

High expectations for super consolidation in 2021

Almost three-quarters of fund professionals expect to see consolidation of the superannuation industry this year

6 January

The view of education from advice firms has shifted from being a compliance tick to a value proposition, according to knowIT and the Monarch Institute.

Industry news

ACTU rejects Govt super reforms

The Australian Council of Trade Unions believes the Government’s superannuation exposure draft legislation is an ‘

5 January

The PC’s recommended default super changes would end the proliferation of super accounts and would reduce overall fees, according to IOOF.

Industry news

Future Super cuts fees

The ethical fund has reduced its fees on all of its investment options on the back of a 200% increase in new

5 January

Industry news

SuperConcepts appoints interim CEO

Following the departure of Lara Bourguignon, AMP’s SuperConcepts has appointed Grant Christensen as interim chief

18 December

The Government’s Banking Executive Accountability regime may become a lawyer’s picnic with the Australian Prudential Regulation Authority confirming both its complexity and the inevitable involvement of the courts.

Money Management Original

APRA’s MySuper heatmap drives 11 funds to exit

While the superannuation system is working and performing well, there are high cost, scale, and sustainability

18 December

Industry news

Cbus Super extends Link administration mandate

The super fund for construction and allied industries, Cbus Super, has announced it will extend its partnership

18 December

Money Management Original

ASIC confirms it is investigating investment switching by super fund execs

With a number of superannuation funds having confirmed investment switching by fund trustees and executives during

17 December

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Bent Way Over

Canberra Pollies, ASIC & Treasury keep saying they want to make Advice more affordable....

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The market rate for Licensee's fees for you are $40,000 but let's say $5,000 under...

IOOF expects adviser departures 8 hours 52 min ago

SD

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Removal of grandfathering and rebates was ‘overdue’10 hours 36 min ago

Superannuation

Legacy pensions overhaul welcomed

323% increase in super scam reports

Did Superstream cost more to implement than it returned?

Early release of super scheme hits $35.9b

Proposed super laws inadequate: AIST

High expectations for super consolidation in 2021

ACTU rejects Govt super reforms

Future Super cuts fees

SuperConcepts appoints interim CEO

APRA’s MySuper heatmap drives 11 funds to exit

Cbus Super extends Link administration mandate

ASIC confirms it is investigating investment switching by super fund execs

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