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Daily Economic Update

... rates to a record 7 per cent last month to rein in inflationary pressure due to strong consumer demand. The RBNZ would not rule out another rate rise until it sees a `noticeable moderation' in spending.

Twin strategy needed to boost super savings: ABA

The Australian Bankers Association (ABA) has called for a twin strategy to boost retirement savings in Australia. In its presentation to a Parliamentary Committee investigating how we can boost superannuation savings among gen-X and Y, the ABA has said ...

Retirees to benefit from pension rule changes

Retirees are set to benefit from the federal government's pension changes that take into account longer life expectancies and demand for more flexible allocated pension payments. This week the government announced changes that will make allocated pensions ...

AXA's Andy Penn fights APRA ban

Axa Asia Pacific Holdings' senior executive Andy Penn has lodged an appeal against APRA's decision to ban him from running a superannuation fund. The super regulator's disqualification order against Penn came following its long-running investigation ...

ASFA calls for super projections to assist 'under 40s' save

The Association of Superannuation Funds Australia (ASFA) has made a submission to the House of Representatives Standing Committee Inquiry into 'Improving the superannuation savings of people under 40' calling for superannuation funds to be granted permission ...

APRA punishes errant super trustees

The Australian Prudential Regulation Authority (APRA) has taken action against two former trustees of the Tunstall Bond Superannuation Fund forcing both trustees to compensate fund members for over $225,000 worth of entitlements, and having one trustee ...

CBA and APRA discuss IFRS implications

AAP  |  TUESDAY, 16 AUG 2005
The Commonwealth Bank of Australia (CBA) is in talks with the financial services regulator over the impact of new international financial reporting standards (IFRS) on its accounts. The bank is talking to the Australian Prudential Regulation Authority ...

ADPIA applauds abolition of NSW vendor tax

The Australian Direct Property Investment Association (ADPIA) has welcomed the NSW Government's decision to scrap the vendor tax believing the move will stimulate further investment in property syndicates. Until now all transactions involving the sale ...

ASIC pleased with ASX role

The Australian Securities and Investments Commission (ASIC) has released the findings of its third annual assessment of the Australian Stock Exchange (ASX) determining the supervisory capability of the ASX. ASIC's report to the Government as required ...

Asset Super rejigs offerings and makes manager switch

Asset Super has changed its trust deed to allow it to offer non-commutable pensions to members of the fund who are still working but wish to access their superannuation. Asset made the changes under the new Transition to Retirement rules which took ...