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Showing 11 - 20 of 56 results for "Modern Awards"

Groups call for default super fund decoupling

DARREN SNYDER  |  TUESDAY, 26 MAY 2015
... company's APRA authorised MySuper product should automatically be eligible to be a default fund irrespective of modern awards. "Logic dictates that we should be able to offer our product to employers and their employees everywhere," he said. "Restrictive ...

Super governance at centre stage

ANDREW BRAGG, FSC DIRECTOR OF POLICY AND GLOBAL MARKETS  |  WEDNESDAY, 11 MAR 2015
... duplicates and undermines this role by selecting a limited number of compulsory default funds for employers using Modern Awards. Just as we should guarantee choice to consumers, employers should be allowed to select a default fund from all APRA authorised ...

Super modern awards anti-competitive: FSC

ALEX BURKE  |  TUESDAY, 20 JAN 2015
Research by the Financial Services Council (FSC) suggests that modern awards are reducing competition in the superannuation industry. FSC's analysis of the modern awards system demonstrates a disproportionate representation of industry, government and ...

FEATURE: 2014 year in review

MARK SMITH, LAURA MILLAN, JAMES FERNYHOUGH  |  FRIDAY, 12 DEC 2014
... in June. The court case was over the role of the Fair Work Commission (FWC) in selecting default super funds for modern awards. The FSC initially argued that the panel that selected funds was biased in favour of industry funds. Then, when the FWC stood ...

Super returns dip in September quarter

JAMES FERNYHOUGH  |  FRIDAY, 28 NOV 2014
... it vindicated the validity of the Fair Work Commission's involvement in the selection of default super funds for modern awards. "Australians rely on the safety net to ensure our savings are in good hands," he said. "The banks, however, treat super as ...

ISA proposes new restrictions on retail super

JAMES FERNYHOUGH  |  THURSDAY, 16 OCT 2014
... meanwhile, argued that the FWC system was "anti-competitive" and called for it to be abolished. Whiteley said: "[The modern awards] system accommodates a 'market failure' in our super system. Eight in ten workers do not choose their own fund. As with ...

PROFILE: UniSuper CEO Kevin O'Sullivan

JAMES FERNYHOUGH  |  THURSDAY, 9 OCT 2014
... catches up with James Fernyhough to talk retirement income, the value of asset consultants, and the future of super in modern awards. Kevin O'Sullivan has lived in Melbourne for the last 24 years, but his accent leaves no doubt that he is, in his own ...

FSC-ISA battle recommences over MySuper data

JAMES FERNYHOUGH  |  FRIDAY, 3 OCT 2014
... unconscionable," ISA said. The FSC, meanwhile, took the opportunity for renewing its call for superannuation to be removed from modern awards. Brag said: "Industry funds are now more expensive and offer lower returns than FSC member funds, but maintain ...

MySuper hurts low balance members: UniSuper CEO

JAMES FERNYHOUGH  |  WEDNESDAY, 1 OCT 2014
... that the vast majority - 95% - of its members join via enterprise bargaining agreements (EBAs) rather than through modern awards. This means that the majority of university employees have no choice but to join UniSuper. UniSuper has come up with a solution ...

Ai Group defends super in awards

JAMES FERNYHOUGH  |  WEDNESDAY, 10 SEP 2014
Australian Industry Group (Ai Group) has called for superannuation default funds to remain within the modern awards system. In its second-round submission to the Financial System Inquiry (FSI) the employer group, which represents more than 6000 businesses ...