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Showing 11 - 20 of 21 results for "MySuper accounts"

Frydenberg flags new advice disciplinary system

HARRISON WORLEY  |  MONDAY, 19 AUG 2019
... introduced by 30 June 2020, alongside action on the recommendation to halt advice fees from being deducted from MySuper accounts. The government also committed to reviewing measures implemented by government, regulators and financial services entities ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... penalty provision in the event of a breach - which is to be enforceable by ASIC. Stop deducting advice fees from MySuper accounts Hayne recommends the cessation of advice fees and other intra-fund advice fees deducted from MySuper accounts - which is ...

MySuper milestones monitor industry movement

DARREN SNYDER  |  MONDAY, 11 SEP 2017
... respectively. As July's deadline loomed for the MySuper transition, Rainmaker said it is not surprising that retail MySuper accounts grew in the last three years from $17 billion to $103 billion and most of this growth occurred in the past 12 months. ...

Competition would save Australians millions in super fees: Deloitte

EMMA RAPAPORT  |  TUESDAY, 4 JUL 2017
... further competition in the superannuation marketplace would reduce fees by $292 million per year across 14 million MySuper accounts. A report issued by Deloitte Access Economics (DAE) finds that the facilitation of choice, creating an environment where ...

Super sets sights on $2tr

ALEX DUNNIN  |  THURSDAY, 20 NOV 2014
... September 2014 to reach $1.871 trillion and are on track to break the $2 trillion barrier by March next year. MySuper accounts for 33% of institutional super funds surveyed by APRA or $375 billion, reinforcing the narrative that MySuper will rapidly ...

FSC-ISA battle recommences over MySuper data

JAMES FERNYHOUGH  |  FRIDAY, 3 OCT 2014
... (ISA) used the figures to highlight that retail funds have not shifted the majority of their default members into MySuper accounts. "The APRA report confirms that just $13 billion of savings in bank-owned and other retail funds has been transferred to ...

MySuper flips members out of millions: CSSA

JAMES FERNYHOUGH  |  TUESDAY, 24 JUN 2014
... reforms. However, the CSSA said members who were flipped into personal accounts are now being flipped back into MySuper accounts, where the death and total and permanent disability (TPD) cover may be much lower. CSSA Treasurer Gareth Hall said he spoke ...

MySuper is bringing fees down: Rice Warner

JAMES FERNYHOUGH  |  THURSDAY, 29 MAY 2014
... management fees went down from 1.20% to 1.12%. He said the figure a decade ago was 1.37%. "The arrival of no frills MySuper accounts has placed downward pressure on management fees, creating further impetus for funds to properly review their overall ...

APRA updates MySuper FAQ guide

ALEX DUNNIN  |  THURSDAY, 12 JUL 2012
... MySuper account. If this results in members having superannuation monies in both MySuper and 'choice' or non-MySuper accounts, APRA said the member only needs to receive a single account statement. "A single account can cover both MySuper and choice ...

Retail super fund commissions revealed

MATT WOODINGTON  |  TUESDAY, 6 SEP 2011
... executive, Industry Super Network. "On this basis all existing account balances must be transferred into no-commission MySuper accounts from 1 July 2015." The research also suggests that around $1.9 billion has been paid in commissions to financial planners ...