Editor's Choice
Moonfare launches in Australia
Global private equity platform Moonfare, with $5.5 billion (€3.3bn) in assets under management, has established footprints in Australia to target wholesale investors.
Insignia exec appointed local chief of MUFG Retirement Solutions
A former Insignia Financial exec has taken on a leadership role at MUFG Retirement Solutions.
AMP launching 'market first' digital advice solution for super members
AMP is rolling out a new digital advice solution, in partnership with Bravura, providing its super fund members with retirement guidance.
Partners Group staffer quits to join NYC firm
Marcus Clitheroe is the first local hire for the multi-strategy private markets investment firm Siguler Guff.
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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.
That is EXTREMELY poor form by the DSS - to make a ruling on a product, that is then launched and sold and then decide to reverse their decision in order to reduce their payments to those in Aged Care. A blatant and morally corrupt money grab at our most vulnerable. If the Government want to make changes to Social Security, they should propose them ahead of time (like the changes to AP income assessment from 1st January 2015), NOT look through previous rulings to reverse immediately without ruling to save some money and not even allow grandfathering for those who are already in product - entered into it in good faith.
"The Department of Social Services is working with Challenger to ensure that investors are appropriately informed by Centrelink about this reassessment prior to any changes taking effect."
That's like informing a person who is about to be run over by a car, that it hurts...!!
What good does that do for anyone, the driver, or the pedestrian?
Yep, nothing.
Various governments have changed their mind on how to assess various types of income streams probably 5-6 times over the last 10 years. Absolutely disgraceful. Basically no-one can plan their retirement properly because the govt backflips every 2-3 years.