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| | | The Financial Services Council has hit back at claims made by Industry Super Australia that retail super funds rort members out of billions of dollars. ISA made the statement back in December last year when responding to the Morrison government's announcement ... |
| | | | The Protecting Your Super Package legislation which asked super funds to hand over inactive accounts to the Australian Taxation Office (ATO) has returned $4.3 billion to members in about 17 months. Between 1 November 2019 and 28 February 2021, nearly ... |
| | | | APRA has announced the appointment of Margaret Cole as a new member, focused on enforcement of the superannuation sector. Announcing the appointment, Treasurer Josh Frydenberg said Cole has extensive experience in regulatory and legal fields across ... |
| | | | ... prudential regulator is slamming the group insurance sector for delivering poor member outcomes off the back of a hoard of super funds - Living Super, HESTA, MTAA Super and LUCRF Super to name just a few - for increasing premiums for little or no value. ... |
| | | | ... decisions. This will increase the administrative and compliance obligations of trustees," he told Financial Standard. Super funds are already inundated with regulatory obligations, such as APRA's SPS 515 Strategic Planning and Member Outcomes. The ... |
| | | | ... plans for further expansion across wealth management and superannuation. "With ongoing change impacting advisers, super funds and platforms, including their clients and members directly, we believe proven providers of relevant services, at scale, will ... |
| | | | ... preferred investment destination," he said. "The merger of QSuper and Sunsuper would create one of Australia's largest super funds, headquartered in Queensland with two million members and $200 billion in assets." The two industry funds floated the ... |
| | | | ... confidence that they will have income for life," he said. Federal treasurer Josh Frydenberg is putting the pressure on super funds to meet the growing demand for these types of products that address retirees' long-term financial needs. The Retirement ... |
| | | | ... reduce costs but also to remove persistent poor performers... On this basis, it seems inappropriate for poor-performing super funds to be put onto life support via a quasi-merger," Bragg said. In response, APRA deputy chair Helen Rowell said it wants ... |
| | | | ... repercussions of this are only beginning to be felt, with strategic asset allocations for institutional investors like super funds shifting to keep up. "Thinking about the defensive portion of our investors' portfolios - if you buy car insurance or home ... |
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