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Showing 111 - 120 of 559 results for "MySuper product"

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 ...

Colonial First State seeks MySuper redemption

ANNABELLE DICKSON  |  TUESDAY, 19 OCT 2021
... wealth manager is also facing penalties over its conduct in rolling members out of FirstChoice and into its cheaper MySuper product over a period of two years.

EISS Super answers tough questions

ELIZABETH MCARTHUR  |  TUESDAY, 12 OCT 2021
... balanced approach. "As a fund that had an older membership with a more conservative view, our view around the MySuper product was to offer a product under our PDS that reflected a more conservative focus. We've probably paid the penalty for having ...

FSC to ban occupational exclusions

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
The Financial Services Council (FSC) is introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations. The standard will ...

Lifecycle now MySuper mainstream: Rainmaker

JAMIE WILLIAMSON  |  MONDAY, 11 OCT 2021
The share of funds under management held in lifecycle MySuper options has almost doubled in the last eight years as single strategy products drop off, but member balances at age 65 still don't quite stack up. This is one of Rainmaker Information's latest ...

APRA proposes further unlisted valuation rules

KARREN VERGARA  |  WEDNESDAY, 29 SEP 2021
... benchmarks, approved by the board, to monitor the performance of each investment in each investment option and each MySuper product on an ongoing basis. When reporting the performance of investment options to senior management and the board, super funds ...

Former super fund chief defends tenure

JAMIE WILLIAMSON  |  THURSDAY, 16 SEP 2021
The former chief executive of EISS Super has spoken out about his decision to depart the fund in the wake of media scrutiny and the fund's failure of the APRA performance test. Alex Hutchison resigned as chief executive of EISS Super on September ...

CFS reduces premiums

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 SEP 2021
... wealth manager is also facing penalties over its conduct in rolling members out of FirstChoice and into its cheaper MySuper product over a period of two years.

EISS Super chief executive exits

KANIKA SOOD  |  FRIDAY, 10 SEP 2021
EISS Super chief executive Alex Hutchison has resigned, after the fund failed the performance test and during its planned merger with TWUSUPER. Hutchison resigned yesterday and requested it be effective immediately. EISS Super chief financial officer ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... members of its FirstChoice Fund on at least 12,978 occasions over nearly two years in relation to switching to its MySuper product. The court found CFS's communication (via letters and calls) may have encouraged members to stay in FirstChoice instead ...