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Australian Retirement Trust, Qantas Super set merger date
Australian Retirement Trust and Qantas Super have signed an SFT and provided an update on when the merger will be complete.
Senate calls to overhaul super fund boards
The report, which calls for major reforms to board appointments, has been slammed as "rushed" and "unserious".
Brookfield subsidiary launches credit fund locally
A Brookfield Asset Management subsidiary has launched the Oaktree Strategic Credit Fund (AUD) to Australian wholesale investors and appointed responsible entity (RE) duties to Channel Investment Management.
Institutional sales exec exits Ares Management
James Fleiter, a member of the institutional sales team for Ares Management Australia, has left the alternative investment manager.
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Raelene Seales
CHIEF EXECUTIVE OFFICER
PRIME SUPER
PRIME SUPER
Prime Super's Raelene Seales' immersions in cultures of innovation and creativity have equipped her to breathe new life into the fund, to the benefit of its broad church of members. Andrew McKean writes.
With respect, the changing of the goal posts with regards to super discourages people from using it as their retirement savings.
Those with large balances did so under the rules at the time. And when they die, a tax of up to 15% of that death benefit may be taxed when it passes to the next generation.
Adjustments to the system were made in 2017, which makes it unlikely that superannuants will have large balances in the future.
So the changes have been made to address these "concerns", however the respective think tanks and policy makers and commentators just need to wait for the members to die.
Div 296 will be the catalyst for members to transfer their wealth to the next generation, thereby either reducing or eliminating the death tax being paid in the future.