ASFA

Superannuation

AIST calls Senate Committee to reject YFYS bill

Some of the worst-performing super products have been carved out of the performance test putting consumers at risk of being stapled to a dud fund, according to the Austra...

Funds management

Women retire with over $30,000 lower balance in super than men

Women retire on average with a balance of $122,848 in super compared to men who, on average, retire with $154,453, according to the Association of Superannuation Funds Au...

Superannuation

67% of super members do not top up

There is a very real chance that many super members will fall short financially when they retire as only 20% of members have consistently topped up their fund, according ...

Superannuation

Will Govt's YFYS legislation force a cull of superannuation associations?

Superannuation industry associations may be facing significant consolidation as the Government’s new legislation forces to superannuation funds to justify spending member...

Superannuation

Most retirees do not underspend or bequeath super: ASFA

Around 80% of people aged 60 who died between 2014 and 2018 had no superannuation in the period of up to four years before their death, according to research....

Superannuation

Home buyer inequity to grow if super used for deposit

Lower income purchases would be either less able or unable to take advantage of superannuation tax benefits, according to a report....

Superannuation

Hume’s ‘positive’ relationship with super funds not translated to industry bodies

Senator Jane Hume says her greatest frustration is the disconnect between what she is being told by superannuation funds and what she is being told by industry bodies....

Financial planning

Advice leaders optimistic on industry’s future

The financial planning industry will start working together to allow those currently excluded from getting advice to be included and the fear of providing complaint advic...

Superannuation

Govt has adopted anti-accumulation views: Keating

There has been a 10% increase in labour productivity in the last eight years and not a cent has gone to wages, and more money in superannuation can help fund public renta...

Policy & Regulation

ASIC asserts its reach into superannuation

On the eve of a major superannuation conference, the Australian Securities and Investments Commission has reminded superannuation fund trustees the degree to which they w...

Financial planning

Should ASIC provide a templated RoA to reduce advice costs?

The cost of delivering advice could be reduced for both advisers and superannuation funds if the Australian Securities and Investments Commission delivered a templated re...

Financial planning

Call to let advisers and clients agree scope up-front

A major superannuation group wants amendments which would see advisers empowered to agree the scope of advice with clients upfront....

Superannuation

Govt warned super performance tests will skew investments

Superannuation funds have warned the Government that its proposed new performance test regime risks rewarding short-termism and denying members the benefits of medium to ...

Financial planning

Intra-fund advice is not special says ASIC

While currently finalising a review based on samples of intra-fund advice, the Australian Securities and Investments Commission has used an article to explain that intra-...

Financial planning

Govt delivers some simplicity around annual fee disclosure

The Federal Government has made at least some concessions to financial advisers with new legislation at least simplifying some elements of fee disclosure while making cle...