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Super fund rationalisation painful: PwC

KARREN VERGARA  |  THURSDAY, 21 JUN 2018
... members are paying for that," she said. While PwC supports the PC's draft recommendations and proposed solutions, some are not without risks or concerns, and the difficulty associated with them shouldn't be underestimated. Rationalisation will ...

Chief economist update: RBA not cruising for a bruising

BENJAMIN ONG  |  THURSDAY, 21 JUN 2018
... hikes" for 2018 and WBC predicted no cuts "throughout the course of 2017, 2018 or 2019". Our basic premise is that were it not for the RBA's concern over adding fuel to overheating property prices (at the time), the Australian central bank would ...

Super industry critiques PC draft report

KARREN VERGARA AND STEPHEN FAY  |  WEDNESDAY, 20 JUN 2018
... 'how they are going?' Nor is the current system doing a good job of "paying money safely back to retirees," Cooper said. Not only do super funds need to respond to this, but also financial advisers. Cooper said advisers have limited training ...

Age pension application difficult: Report

HARRISON WORLEY  |  WEDNESDAY, 20 JUN 2018
... support and web access. "In a country like Australia where people have worked hard and paid taxes their whole life, it's simply not fair that government makes it hard to apply for the Age Pension," he said. "We worked with seniors to better understand ...

TAL veterans launch new life insurance provider

ALEX BURKE  |  WEDNESDAY, 20 JUN 2018
... said NEOS "is here to set a new standard in Australian life insurance." The company's website explains the business is "not here to simply chase market share and deliver a mediocre experience to everyone. Our aim is to provide value-for-money products ...

Super fund names new board director

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUN 2018
... councillor of the Sutherland Shire Council and has previously served as a director on the boards of several corporate and not-for-profit organisations. LGS said McLean brings a wealth of expertise in superannuation, financial management, social and competition ...

BT Financial Advice cuts grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUN 2018
... (despite being permitted under FoFA), ensuring that all BT Financial Advice ongoing advice customers receive an opt-in notice (not just those who joined after the FoFA reforms commenced as required by FoFA) and giving customers the opportunity to openly ...

NZ Super Fund appoints CEO

HARRISON WORLEY  |  WEDNESDAY, 20 JUN 2018
... also confirmed Mark Fennell will continue as interim chief investment officer. The fund added a permanent appointment would not be made until determined by Whineray.

Priestley resigns from ASX, Future Fund boards

KANIKA SOOD  |  TUESDAY, 19 JUN 2018
J.P. Morgan Australia non-executive chairman Robert Priestley has resigned from the boards of the Australian Securities Exchange and the Future Fund following the ACCC pursuing a criminal cartel conduct investigation. Announcing his decision, Priestley ...

ANZ creates mental health portal

ALEX BURKE  |  TUESDAY, 19 JUN 2018
ANZ is partnering to roll out a mental health and wellness portal to assist advisers with their own mental health as well as that of their clients. The bank is working with health and wellbeing company Mindstar, which has developed the online portal ...