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Showing 1 - 10 of 42 results for "Superannuation Performance"

Actuaries Institute proposes new performance test measure

ANDREW MCKEAN  |  TUESDAY, 23 APR 2024
The Actuaries Institute has proposed revising the annual superannuation performance test, so it better aligns trustees' investments with the best financial interests of members. In its Treasury submission, the Institute said the test should include ...

Government consults on options to improve performance test

ANDREW MCKEAN  |  MONDAY, 11 MAR 2024
The government is seeking feedback on alternative superannuation performance test designs after criticism about unintended investment consequences. In considering potential reform options, the primary focus is on improving member outcomes through an ...

On-platform TDPs miss performance test benchmarks, worst on fees: APRA

ANDREW MCKEAN  |  WEDNESDAY, 29 NOV 2023
... benchmark and exhibit higher administration fees. The prudential regulator's analysis based on the 2023 superannuation performance test showed that 56% of member accounts in platform TDPs managed by RSE licensees underperformed their benchmark, with ...

Government must do more after product failures: FSC, SCA

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  FRIDAY, 1 SEP 2023
As the likes of Crescent Wealth and Insignia Financial respond to the 2023 superannuation performance test results, the Financial Services Council (FSC) and Super Consumers Australia have said the government must still do more to ensure members in underperforming ...

Ninety-seven super products fail performance test

JAMIE WILLIAMSON  |  THURSDAY, 31 AUG 2023
Of the 97 products to fail this year's superannuation performance test, 96 are trustee-directed products - 75% of which are issued by the same four trustees. Released this morning, the 2023 performance test marks the first time trustee-directed ...

Super assets continue to climb: APRA

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
APRA has published its Quarterly Superannuation Performance and Quarterly MySuper Statistics report, revealing surging growth in the superannuation sector. Total superannuation assets increased by 7.6%, reaching $3.54 trillion in the year to June, compared ...

Russell Investments reports super returns up to 13.5%

ANDREW MCKEAN  |  FRIDAY, 28 JUL 2023
... over 9.9%, attributed to access to top-tier global investment managers and diversified strategies. On superannuation performance, Furlan commented: "GoalTracker's performance demonstrates the immense value of having the right investment strategy ...

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
Industry Super Australia deputy chief executive Matthew Linden says the fact the amended superannuation performance test doesn't look at retirement products is a cause for concern. In the latest episode of the Financial Standard podcast, Linden said ...

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
As the government unveils a raft of updates to the superannuation performance test, due to take effect in August, some trustees are worried that it subjects Choice products to a rigid criterion. As previously flagged, all products will be subject to ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
... Financial Advice Association Australia (FAAA) has criticised Treasury for neglecting to consult on draft Superannuation Performance Test reforms. FAAA chief executive Sarah Abood voiced concerns regarding the proposal and process of the Performance Test. ...
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