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Showing 111 - 120 of 2223 results for %22Superannuation Trustees%22

OnePath fined over MySuper bungle

JAMIE WILLIAMSON  |  WEDNESDAY, 14 JUN 2023
... as to where the money should be invested. This occurred from mid-2022 onwards, the regulator said. Under the SIS Act, trustees must direct contributions to a MySuper product where the member has not advised where they should go. In addition to the fine ...

Industry bodies respond to QAR recommendations

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... raising standards of living in retirement and reducing the cost of an aging population to the government," he said. Superannuation funds will potentially need to provide an intra-fund offering if they are not already do so for members sometime in 2024 ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
The federal government will scrap a load of administrative burdens and give superannuation funds a larger role in making financial advice more affordable as it announces which out of the 22 Quality of Advice Review recommendations will become a reality ...

APRA finalises rules for financial crisis readiness

ANDREW MCKEAN  |  FRIDAY, 19 MAY 2023
Finalising new prudential standards, APRA is aiming to bolster banks, insurers, and superannuation trustees' resilience against future financial crises. APRA hopes the new standards will equip these financial entities with strategies to counteract threats ...

Super fund blunder likely down to bad data: Podcast

CASSANDRA BALDINI  |  THURSDAY, 18 MAY 2023
... provided to super funds probably comes from three main sources, the employer, the member, and then administrators and trustees upon a successor fund transfer." He said, assuming tax file numbers (TFN) are correctly disclosed and inputted, you'd assume ...

Insignia bolsters executive leadership team

ANDREW MCKEAN  |  THURSDAY, 18 MAY 2023
... outcomes, ensuring alignment to Insignia's governance functions. She reports directly to the Insignia superannuation trustees chair. Coyne brings more than 25 years' industry experience to the role. She has spent the last 15 years at MLC and Insignia ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
Super Consumers Australia (SCA) is urging all superannuation funds to review their account handling processes in the wake of AustralianSuper refunding $70 million to approximately 100,000 members who held multiple accounts with the fund. Last week ...

Industry funds' illiquid assets scrutinised

ANDREW MCKEAN  |  THURSDAY, 11 MAY 2023
The Australian superannuation system allows investors to shift between options and funds daily, raising critical questions about liquidity. Despite requirements under SPG530 - Investment Governance, public disclosure on liquidity stress-testing is relatively ...

NALI measure receives mixed response

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAY 2023
... government provided clarity on the Non-Arm's Length Income (NALI) provisions related to expenditure incurred by superannuation funds - however, the industry says it requires further consideration. In last night's budget, the government proposed ...

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
... Meanwhile, in 2021 anti-hawking legislation was introduced. Earlier this year, the Australian Institute of Superannuation Trustees (AIST) called out advice firms that use third parties to solicit business through cold calling. Unsolicited calls to consumers ...