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Showing 61 - 70 of 2117 results for "APRA"

ART, AvSuper closer to merging

KARREN VERGARA  |  MONDAY, 28 AUG 2023
... of Understanding with Alcoa Super in March. It was one of many funds with less than $10 billion in AUM that was flagged by APRA to have sustainability issues in March 2022. The Oracle Superannuation Plan transferred all its members to ART on April 30 ...

Longevity risk is big super's biggest failure: Podcast

CASSANDRA BALDINI  |  MONDAY, 28 AUG 2023
... reviewing 15 super fund trustees, collectively representing the superannuation of over five million Australians, ASIC and APRA identified significant shortcomings in the system. The regulators had three overarching observations; a greater emphasis on ...

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 ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... the operation of the instrument," the regulator said. The deadline for feedback on the proposal is August 25. Meanwhile, APRA released its final instrument exempting certain RSE licensee directors from the change of control and ownership provisions of ...

APRA finalises framework for MySuper products

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
APRA has released a technical determination, aiming to standardise the amalgamation of MySuper product performance histories. The announcement marks the culmination of consultations held in April 2023. The Superannuation Technical Determination No.1 ...

Liquidate $250bn Future Fund, says think tank

CASSANDRA BALDINI  |  THURSDAY, 10 AUG 2023
Given Australia's economic status, the government has been urged to liquidate the $250 billion Future Fund and pay down its $896 billion debt. According to a paper published by the Centre For Independent Studies, penned by Dimitri Burshtein, the ...

Trustees to disclose more remuneration details

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
APRA will force superannuation funds to provide more details into how they pay executives, particularly wanting deeper insight into how variable remuneration is rewarded. The prudential regulator has updated Prudential Standard CPS 511 Remuneration ...

New chief executive for retail super fund, platform

KARREN VERGARA  |  TUESDAY, 1 AUG 2023
A retail superannuation fund and platform provider has named its new chief executive as the incumbent retires after 12 years. Acclaim Wealth, formerly AMG Super, promoted Terry Constable as the new chief effective October 1. Constable joined the organisation ...

Industry grapples with looming cyber threats

CHLOE WALKER  |  THURSDAY, 27 JUL 2023
... in to receive an individual report, providing insight as to how their cyber resilience compares to their peers. Meanwhile, APRA is assessing more than 300 of its regulated entities' compliance with CPS 234 Information Security. So far, 24% of entities ...

Retail super funds plan to merge

ANDREW MCKEAN  |  WEDNESDAY, 26 JUL 2023
... on a member-by-member basis, as a result of a larger member base. This is also consistent with recent statements made by APRA as to the benefits of consolidation within the superannuation industry." Of note, according to APRA fund-level superannuation ...