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ASIC issues 'wake-up call' to trustees on member complaints
|The corporate regulator is calling on superannuation trustees to improve oversight of issues arising from member complaints, noting many are not doing enough to use complaints as early warning signs of broader issues.
Aware Super expands Challenger partnership for lifetime income solution
|Aware Super has moved to expand its retirement income offering through a partnership with annuity provider Challenger, as superannuation funds face growing pressure to help members turn accumulated savings into sustainable income.
FBI accuses North Korea of $9bn Binance crypto heist
|North Korea has been accused of being the culprit behind the $9 billion (US$6.3bn) cryptocurrency heist from global digital asset platform Binance that took place last week.
ASIC takes action on Falcon Capital directors
|ASIC is suing the directors of Falcon Capital, the responsible entity for the failed First Guardian Master Fund, alleging "serious and widespread failures" in their oversight.
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Featured Profile
Jacqueline Fernley
CHIEF EXECUTIVE OFFICER
ARC POINT OCIO PTY LTD
ARC POINT OCIO PTY LTD
Jacqueline Fernley is a self-confessed nerd, a market animal and as of this year, her own boss. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Sadly, more people "on track for a comfortable retirement" can only mean greater increases to the cost of living. Nothing has changed. Only by doing MORE than what most people are doing to save for the future, can anyone expect to have a higher standard of living in retirement than others who are relying on the minimum standard. This article ignores the reality that the cost of goods and services are always determined as much by what the customers can afford to pay as they are by the cost of production. Prices will inevitably increase to cancel out the benefit of increases to the minimum retirement savings. Taxpayer funded pensions will therefore remain a large factor in future Govt budgets to defend those on the minimum standard (whatever level it has reached) from falling further behind.