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Showing 1291 - 1300 of 3210 results for "Scheme"

Industry fund changes insurer

KANIKA SOOD  |  FRIDAY, 8 NOV 2019
... income protection cover, amid an overhaul of its insurance offering. NESS Super (New South Wales Electrical Superannuation Scheme) managed about $760 million in superannuation savings for about 14,000 electrical industry employees at the end of last ...

Adviser scammed family, friends

ELIZABETH MCARTHUR  |  FRIDAY, 8 NOV 2019
A New York investment adviser named Ruless Pierre allegedly operated a Ponzi scheme that unlawfully obtained more than $2 million from investors who were told they'd see returns of 20% every two months. Part of the scheme, known as the Amongst Friends ...

APRA begins super data transformation efforts

HARRISON WORLEY  |  FRIDAY, 8 NOV 2019
APRA is embarking on a multi-year project to improve the quality of its superannuation data collection that will pave the way for the proper comparison of super products, with choice super set to come under increased scrutiny. Known as APRA's Superannuation ...

Actuaries develop retiree rule of thumb

HARRISON WORLEY  |  THURSDAY, 7 NOV 2019
A group of actuaries have answered the calls of retirees looking for a simpler way to determine how much money they should draw out of their savings in retirement, developing a new three-part rule of thumb. The Rule of Thumb Working Group has developed ...

Super fund adds industry veteran

JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... of Franklin Templeton to its board of directors. Maria Wilton has joined the board of the Australia Post Superannuation Scheme, effective October. At the same time, Jim Marshall stepped down from the APSS board after close to nine years. Marshall also ...

US reaches $1bn settlement over 1MDB scam

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... the conclusion of this settlement, the US will have recovered more than USD $1 billion in assets associated with the 1MDB scheme, which Low was allegedly at the helm of. This represents the largest recovery to date under the Department's Kleptocracy ...

AFCA delivers $185m in compensation

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
The Australian Financial Complaints Authority has delivered $185 million in compensation to consumers in its first year of operation. AFCA received a 40% uptick in complaints compared to previous complaints schemes. About 77% of complaints lodged have ...

Adviser tampered with MySuper

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... for this to happen. This is a violation of the MySuper legislation as the government designed MySuper to be an opt-out scheme and Tran's conduct effectively required clients to opt-out, ASIC said. His actions resulted in a $366,000 compensation bill ...

Inflation the forgotten risk to retiree portfolios

HARRISON WORLEY  |  WEDNESDAY, 30 OCT 2019
... simple thing to do, and we do it for all of our portfolios," he said. Beesley said the strategy was used by defined benefit scheme managers, who realized they were paying inflation linked coupons "for the rest of their investors life". Offering the crowd ...

ASIC imposes AFSL conditions on IOOF

JAMIE WILLIAMSON  |  MONDAY, 28 OCT 2019
... ASIC, IOOF Investments Services Limited (IISL) sought a variation of its licence in order to transfer a managed investment scheme, IDPS and advice activities from IOOF Investment Management to IISL under the group's broader reorganisation plan to ...