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Showing 111 - 120 of 568 results for "MySuper Product"

Super assets rise to $3.4tn

KARREN VERGARA  |  WEDNESDAY, 24 NOV 2021
Superannuation continues to break milestones, reaching $3.4 trillion in the year to September. Thanks to a 55% allocation to equities, the latest APRA statistics show that the superannuation pool reached another record high. Some 23% of total assets ...

APRA moves to force EISS Super merger

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
... action may follow, Cole said. "Ultimately, the best way for EISS to optimise outcomes for members of its struggling MySuper product is to transfer them to a more sustainable and better performing product as soon as possible," she said. "The new licence ...

BT confirms changes to super business

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
Financial Standard understands BT is preparing to announce the sale of its superannuation business, with the group confirming changes are underway. Financial Standard understands several roles were made redundant yesterday, with more expected throughout ...

Test-induced movement marginal: Data

JAMIE WILLIAMSON  |  WEDNESDAY, 10 NOV 2021
... Super's MySuper, BT Super MySuper and lastly, the Victorian Independent Schools Superannuation Fund's MySuper product. While it's still early days, APRA is urging workers to reassess their super arrangements as soon as possible. "The trustees ...

APRA to disclose MySuper product YFYS test values

JAMIE WILLIAMSON  |  THURSDAY, 4 NOV 2021
... test value in the December heatmap. APRA said it intends to publish the performance test values as part of the MySuper product heatmap, due to be released in December this year. The regulator also disclosed the representative administration fees and ...

AMG Super launches platform, product

KARREN VERGARA  |  TUESDAY, 2 NOV 2021
... individualised portfolio without the hassle of administrating and consolidating off-platform assets," he said. AMG's MySuper product was one of 13 funds that failed APRA's inaugural performance test. It joined the likes of ASGARD Employee MySuper, Australian ...

APRA to weed out underperforming choice products

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
Choice products charge significantly higher and tend to underperform compared to MySuper options, new analysis by APRA finds. Ahead of unveiling the inaugural Choice Product Heatmap, the prudential regulator released staggering statistics that will ...

Future Fund becoming more expensive to operate

KARREN VERGARA  |  THURSDAY, 28 OCT 2021
... management of superannuation have swirled for years. Should this materialise, comparing costs with the average MySuper product would see the Future Fund charge significantly more. Currently, MySuper has a total cost ratio of 1.07% on average (see Figure ...

Default MySuper fees drop to 1%: Rainmaker

JAMIE WILLIAMSON  |  WEDNESDAY, 20 OCT 2021
... in 10 default MySuper products reduced fees in 2020/21, with fees now averaging 1% overall. The average default MySuper product now charges 1.08%, down from 1.13% the previous year. The total expense ratio for not-for-profit and retail funds is now 1.07% ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON  |  TUESDAY, 19 OCT 2021
... misled members on almost 13,000 regarding investment decisions, possibly deterring them from moving to a cheaper MySuper product. "The $20 million penalty handed down to Colonial is a timely reminder to superannuation trustees not to mislead members ...