Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 221 - 230 of 397 results for "MySuper products"

SMSFs outperforming MySuper: Research

KARREN VERGARA  |  FRIDAY, 14 SEP 2018
... and tax) in the year to July 2018. Meanwhile the SG360 Default Index, which tracks the performance of default MySuper products, returned 10.2% per annum. Over a three-year period, returns for both the SMSF (7%) and MySuper (6.8%) sectors were almost ...

AMP, CBA respond to record class action bid

JAMIE WILLIAMSON  |  WEDNESDAY, 12 SEP 2018
... the issue of negative returns and affected customers are being compensated for lost earnings. Fees on flagship MySuper products have also been cut. In a brief statement, CBA said it is aware of the potential class action but it had not been served with ...

Best-in-show super fund list should be 11: WSSA

KARREN VERGARA  |  TUESDAY, 11 SEP 2018
... own product, it said. Members won't be forced to pick from the shortlist, but have access to the full set of MySuper products and "nudged" towards good products. Every four years, the expert panel would assess the funds are achieving the best outcomes ...

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... contravened the Superannuation Industry (Supervision) Act by delaying the transition of members into cheaper MySuper products. In response to recommendations put forth to Commissioner Kenneth Hayne on August 24, many retail funds denied any wrongdoing ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... superannuation funds, fell below community standards by not "making it easy" for members to find out about lower fee MySuper products in light of the reforms. The issue was subsequently investigated by MSAL after a Four Corners program aired on 26 March ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... charges to members on their investments in cash through the SDF Cash Management Trust or with respect to the MySuper products. This was "a decision to be made ultimately by others in the AMP Group," Hodge said. One member received negative returns on ...

SMSFs too conservative: Poll

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... "surprisingly conservative." The Productivity Commission's May 2018 report notes SMSFs are inefficient compared to MySuper products unless they have at least $1 million. The SMSF Association (SMSFA) dismissed this claim arguing that SMSFs are much more ...

Intra-fund advice conflicted: Royal Commission

KARREN VERGARA  |  THURSDAY, 16 AUG 2018
... assisting Michael Hodge continued to flesh out why CFS, a subsidiary of CBA, mishandled transitioning members to MySuper products over a long and messy process. Chun was grilled on intra-fund advice - an arrangement between CFS (the trustee) and Financial ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
... failing to meet the Government-mandated 1 January 2014 deadline that default contributions must be paid into MySuper products.

Poor systems delay MySuper transitions: CFS

KARREN VERGARA  |  WEDNESDAY, 15 AUG 2018
... Royal Commission hearing, contributing to what Colonial First State admits was a lengthy transition of members to MySuper products. CFS executive general manager Linda Elkins blamed the limitation of CBA's systems and lack of operational capacity ...