FEATURE: 2014 year in reviewBY MARK SMITH, LAURA MILLAN, JAMES FERNYHOUGH | FRIDAY, 12 DEC 2014 11:05AM
This year has been another busy one for the financial servives industry. FoFA remained on the radar and the Financial System Inquiry has the potential to change things in a big way. The Financial Standard team takes a look at the issues that made waves and will keep us talking into 2015.Read more: US, Australia, This, ATO, FSC, ISA, Financial System Inquiry, ASIC, FW, ANU, FSI, FWC, APRA, Federal Court, Labor, Superannuation Funds, MySuper products, Senate Economics Committee, June 2014, Andrea Slattery, CFPL, Coalition, Commonwealth Bank, Financial Standard team, General, Greens, July, November, Treasury, Association, LGS, September, CBA executives, ANZ SmartChoice Super, Cbus employees, March 2014, ASFA, Assistant Treasurer Arthur Sinodinos, Australian Financial Review, Australian National University, Australian Prudential Regulation Authority, Australian Securities, Challenger, China, Commonwealth Financial Planning, David Murray, Employment Minister Eric Abetz, Equip, Fair Work Commission, February, Finance Minister Mathias Cormann, Financial Services Council, Financial System Inquiry One, FSC-ISA Federal Court clash Relations, Governance, Grattan Institute, Industry Super Australia, Investments Committee, John Brogden, John Hewson, Labor Senator Mark Bishop, Liberal Party, Local Government Super, Malcolm Fraser, Mercer, MetLife, MySuper-style product, MySuper data, Open Advice Review program, Over 2014, Prime Minister Tony Abbott, Rainmaker data shows, Retirement income Australia, Royal Commission, S&P Dow Jones Indices, September 2013 Federal election, Trade Union Corruption
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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