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Showing 261 - 270 of 443 results for "Administration Fee"

Industry split over super fee hike

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  TUESDAY, 4 FEB 2020
... legitimacy. Earlier this month AustralianSuper notified members it would be introducing a new fee called 'Administration fee - Protecting Your Super'. From April this year, all accumulation members will pay up to 0.04% of their balance - in addition ...

Ongoing fees, advice fees in super to be reformed

ELIZABETH MCARTHUR  |  FRIDAY, 31 JAN 2020
New draft legislation aims to increase obligations around charging ongoing fees for financial advice and outlaw advice fees charged by superannuation funds. On Friday, the government released consultation draft legislation to implement 22 recommendations ...

AMP cuts super fees

JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2020
AMP is reducing investment and administration fees across its suite of superannuation products, including removing the Stronger Super fee it introduced in 2013 to finance the implementation of the reforms. The fee cuts will be applied to MySuper, choice ...

AustralianSuper ups admin fees

JAMIE WILLIAMSON  |  WEDNESDAY, 22 JAN 2020
... Protecting Your Super changes. Effective April 1, AustralianSuper's members will start paying the 'Administration fee - Protecting Your Super' fee; a variable fee based on a member's account balance, up to a maximum of 0.04%. On a balance ...

AMP remediation processes questionable

JAMIE WILLIAMSON  |  TUESDAY, 21 JAN 2020
AMP has responded to reports it is refunding fees charged to members into new AMP superannuation accounts opened without customers' knowledge or consent. Following a report by the ABC, AMP has confirmed it is depositing refunds owed to former customers ...

New super fund targets millennials

ELIZABETH MCARTHUR  |  TUESDAY, 21 JAN 2020
... investment options - Elevate Balanced and Elevate Growth. There is no MySuper option. The balanced option charges an administration fee of 0.81% per annum plus $93.60 per annum. For comparison, fellow start-up super fund Spaceship has an admin fee of ...

Cbus Super chief to exit

KANIKA SOOD  |  WEDNESDAY, 15 JAN 2020
David Atkin will leave as the $57 billion superannuation fund's chief executive later this year after 12 years in the role. Atkin steered Cbus as it grew from just $12 billion in assets under management, adopted a more comprehensive approach to ...

Faith-based super fund increases fees

ELIZABETH MCARTHUR  |  FRIDAY, 10 JAN 2020
The faith-based superannuation fund for Muslims has announced an increase to its administration fee. Crescent Wealth Superannuation Fund upped its administration fee from 0.69% per annum to 0.89% per annum. The changes come after the promoter of the ...

MySuper heat map lauds industry funds

HARRISON WORLEY  |  TUESDAY, 10 DEC 2019
... administration fees it charges to members with account balances of $10,000 or less. The fund charges members a flat administration fee of $2.25 per week, which equates to a 1.17% fee as a percentage of a $10,000 account each year. Rainmaker head of superannuation ...

APRA releases MySuper heat map

HARRISON WORLEY  |  TUESDAY, 10 DEC 2019
The prudential regulator has finally published its long-awaited heat map for MySuper products, with deputy chair Helen Rowell saying it's likely many in the industry will feel uncomfortable. APRA released the first iteration of its MySuper heat ...