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

Search Results

Showing 11 - 20 of 53 results for "Modern Awards"

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 ...

New report stokes 'Compare the Pair' flames

MARK SMITH  |  WEDNESDAY, 13 AUG 2014
... funds," Whiteley said. His comments come as the industry and government are deliberating the appropriateness of the modern awards system, with bank-owned funds claiming the system for selecting default funds stifles competition. "Bank-owned super funds ...

Banks will struggle to profit from super: Sunsuper CEO

JAMES FERNYHOUGH  |  WEDNESDAY, 23 JUL 2014
... indicated that they will aggressively pursue the default market should it open up to general competition (currently the modern awards system means it is something of a closed shop). Hartley said he is proceeding on the assumption that it will open to ...

What happened to the ISA-FSC accord?

JAMES FERNYHOUGH  |  WEDNESDAY, 9 JUL 2014
... stand in the way of such an agreement, guaranteeing a continued battle for some time to come: namely, FoFA, and modern awards. Industry funds such as those Whiteley represents rely heavily on the modern awards system to gain new members and hold on to ...