Digital shift leaves industry funds behindBY LAURA MILLAN | MONDAY, 18 NOV 2013 10:20AM
Industry and corporate funds have not been able to keep up with the frantic pace of technology changes. In the era of smartphones and tablets, only 8% of industry and corporate funds have an application suitable for these gadgets, according to a Towers Watson survey.Read more: Technology, Towers Watson, Australia, Lisa Samuels, NGS Super, Anthony Rodwell-Ball, ASFA, Association, Australians, BT Financial Group head, Callum Todd, Facebook, HESTA, Pauline Vamos, Richard Body, Sensis research shows, Silicon Valley, Superannuation Funds, Twitter, US, Vicki Doyle
Australia's superannuation sector is fighting a war on three different fronts, as the economic fallout of COVID-19 continues to bite.
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%.
APRA has asked superannuation funds to submit their in-house modelling on the magnitude of impact they are expecting from the Federal Government's special allowance for early release from superannuation.
Zenith Investment Partners wants to reverse out of its planned $12 million purchase of Chant West's superannuation business, saying the latter has been materially affected since February, but Chant West is digging its heels in.
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