Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 101 - 110 of 119 results for "Protecting Your Super"

Communication fails to keep member interests at heart

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2019
Many superannuation fund members are feeling confused after receiving communication from trustees attempting to explain the new Protecting Your Superannuation Package laws. Some super funds however, are outshining others. APRA wrote to trustees today ...

Challenging conditions sting IOOF

HARRISON WORLEY  |  FRIDAY, 3 MAY 2019
... services," Mota said. The firm expects revenue impacts of around $8 million in financial year 2020, after the Protecting Your Super Package banned exit fees and made changes to inactive low balance accounts.

ASIC targets misleading member communication

KARREN VERGARA  |  WEDNESDAY, 17 APR 2019
... communication to members about inappropriate fees and insurance premiums. The warning comes in light of the Protecting Your Super package (PYSP) reforms, which are due to take effect on 1 July 2019. ASIC Commissioner Danielle Press said: "It is not appropriate ...

Superannuation bills on hold

KARREN VERGARA  |  MONDAY, 15 APR 2019
Four key pieces of legislation, including the protection of young superannuation members and low-balance accounts from default insurance premiums, have been put on ice. Treasury Laws Amendment (Putting Members' Interests First) Bill 2019, a highly anticipated ...

Protecting Your Super Package will cross finish line: Treasurer

KARREN VERGARA  |  TUESDAY, 2 APR 2019
Federal Treasurer Josh Frydenberg outlined in the Budget that part of the Protecting Your Super Package has been delayed but flagged it will pass into law before the end of 2019. A new law to enable superannuation fund members with a balance less than ...

AustralianSuper hikes insurance fees

KARREN VERGARA  |  TUESDAY, 2 APR 2019
AustralianSuper is increasing the cost of insurance, blaming the Federal Government's recent Protecting Your Super legislation for the changes. On 1 June 2019, the cost of TPD and income protection cover will rise for AustralianSuper members with ...

Robert slates industry over inactive accounts

HARRISON WORLEY  |  THURSDAY, 21 MAR 2019
... Council's Life Insurance Conference in Sydney this morning, the Assistant Treasurer noted how the Government's Protecting Your Super package was designed to ensure superannuation accounts that had been inactive for more than 16 months would not have ...

Rice Warner predicts super fee-hike

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... believes the number of superannuation accounts in Australia will drop by 26% as a result of the Government's Protecting Your Super package transferring accounts with balances lower than $6000 to the ATO. Further, Rice Warner said if the Productivity ...

New reforms to smash major super funds

JAMIE WILLIAMSON  |  TUESDAY, 26 FEB 2019
AMP, Hostplus and ANZ OnePath will be hit hardest by the Protecting Your Super package, according to latest Rainmaker insight. More than five million superannuation accounts are set to benefit from the new legislation passed through the Senate last ...

Group insurance reforms to be tabled

JAMIE WILLIAMSON  |  WEDNESDAY, 20 FEB 2019
... currently holding duplicate life cover in super are under 25 years of age. The measures form part of the wider Protecting Your Super package, the bulk of which was passed in the Senate last week. The measures being tabled today were lost in that round ...