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Quality of retirement does not depend on super balance: Bragg

ELIZA BAVIN  |  FRIDAY, 10 MAY 2024
The Senate Economics Committee has handed down its Interim Report into existing and proposed super for housing policies. Chair of the Senate Economics Committee Senator Andrew Bragg said the Inquiry was recalibrated to assess how policy could improve ...

UniSuper outage continues, no cause identified

JAMIE WILLIAMSON  |  TUESDAY, 7 MAY 2024
... Despite having been down for about a week, UniSuper said Google Cloud is still investigating the nature of the incident. "Let me stress that Google Cloud has provided clear assurance that this was not the result of a malicious act or cyber-attack, and ...

UniSuper battles major system outage

JAMIE WILLIAMSON  |  FRIDAY, 3 MAY 2024
... and we apologise. "We're working around the clock to get systems back online swiftly, safely, and securely. We'll let you know when full online access is restored to your account." The fund added that it has caused disruption across the entire ...

ASIC hits back at parliament: 'Simply not realistic'

ELIZA BAVIN  |  TUESDAY, 30 APR 2024
... it is simply not feasible in circumstances where there are literally many thousands of complaints a year, for any agency - let alone ASIC - to treat each and every one of them as if an investigation is justified. "Many of the complaints are actually ...

Sequoia chief's job at stake in upcoming EGM

ANDREW MCKEAN  |  FRIDAY, 26 APR 2024
... parts of his leadership style. "My openness and support of those loyal people around me has been criticised, however I will let my results speak for themselves. I remain as passionate about Sequoia and our team as I always have," he said. "Looking ahead ...

Proxy advisors have 'undue influence': Jamie Dimon

ANDREW MCKEAN  |  THURSDAY, 11 APR 2024
In an annual letter to shareholders, J.P. Morgan chief executive Jamie Dimon expressed concern about the "undue influence" of proxy advisors, particularly ISS and Glass Lewis. Dimon said asset managers and institutional investors should base their voting ...

Super funds' IDR process weak, inadequate: AFCA

KARREN VERGARA  |  FRIDAY, 5 APR 2024
... importantly, members who come straight to AFCA do so "because the consumer has lost trust in the trustee and is unwilling to let the trustee try to resolve the issue and/or the trustee has not correctly identified the consumer was expressing a level ...

Powell confirms rate cuts likely 'at some point' this year

ELIZA BAVIN  |  THURSDAY, 4 APR 2024
... "at some point this year". "Powell reiterated that the better than forecast US economic performance gives the FOMC time to let data guide policy, but that interest rates will likely be cut at some point this year," Commonwealth Bank associate economist ...

BlackRock's Fink signals a tough road ahead for future retirees

ANDREW MCKEAN  |  WEDNESDAY, 27 MAR 2024
In his annual letter to investors, BlackRock chair and chief executive Larry Fink said providing people a secure, well-earned retirement is much more challenging now that it was 30 years ago, and it will be "much harder" in the future. As such, Fink ...

UK advisers told to review retirement advice processes

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
Financial advisers in the UK are being asked to examine their processes when providing retirement income advice, following a thematic review that found some "are not even getting the basics right." The Financial Conduct Authority (FCA) undertook the ...
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