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Showing 11 - 20 of 396 results for "MySuper products"

Webull launches SMSF account offering

ANDREW MCKEAN  |  MONDAY, 14 APR 2025
... superannuation system, with average fees of 0.65% per annum, according to Rainmaker Information. That compares to 1% for MySuper products and a system-wide average of 0.93%, which continues to decline. But whether greater control benefits younger investors ...

MLC trustees to pay $65m in MySuper class action settlement

JAMIE WILLIAMSON  |  FRIDAY, 6 DEC 2024
... the trustees breached their duties by delaying the transition of about 330,000 members' accounts to cheaper MySuper products. Most members were part of The Universal Super Scheme which merged with others to become MLC Super Fund in 2016. It was alleged ...

Choice products continue to overshadow MySuper: APRA

MATTHEW WAI  |  THURSDAY, 3 OCT 2024
... 225 were retirement products ($442 billion). This compares to the more than $1 trillion allocated over the 57 MySuper products in the corresponding period. The average account balance of those in a default option ($69,000) is almost half that compared ...

APRA calls out high-cost super platforms

ELIZA BAVIN  |  TUESDAY, 24 SEP 2024
... higher admin fees and costs and whether the products can become more efficient so they can reduce them. APRA said MySuper products have relatively low fees and costs and that those offerings should "serve as a reference point for cost competitive administration ...

All MySuper products pass super performance test

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
All MySuper products passed this year's superannuation performance test with flying colours for the first time, while some trustee directed products (TDPs) need to lift their game, according to APRA. APRA assessed the performance of 57 MySuper products ...

Super performance test needs personal rate of return: Adviser

KARREN VERGARA  |  THURSDAY, 15 AUG 2024
... APRA will release the results of its superannuation performance test at the end of August. APRA has assessed MySuper products since 2021 while trustee-directed products (TDPs), a subset of the choice accumulation sector, were thrown in the fire last ...

Performance test covers managed accounts, SMAs: APRA

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
... and expenses (BRAFE) are used for the performance test. In the 12 months to March 2024, APRA used 0.274% for MySuper products, 0.2604% for non-platform TDPs, and 0.505% for platform TDPs. APRA uses trustee data as at August 15 each year to make its assessments. ...

Retail funds drive down admin fees: KPMG

KARREN VERGARA  |  TUESDAY, 28 MAY 2024
... funds after bringing down their administration fees, a new analysis by KPMG shows. KPMG found that admin fees for MySuper products have come down from 0.33% to 0.26% based on a $50,000 balance. With MySuper admin fees continuing to decrease across the ...

Performance test needs better metrics, durability

KARREN VERGARA  |  MONDAY, 6 MAY 2024
... available data that APRA has to be able to administer the test in a relatively quick manner as well," he said. MySuper products were the first to be subjected to the test three years ago, forcing many super funds that failed to either join forces with ...

Vanguard backs current performance test

ANDREW MCKEAN  |  FRIDAY, 19 APR 2024
... savings, assessing trustees on investment performance and fees charged to members. The test has been applied to MySuper products since 1 July 2021 and was extended to Trustee-Directed Products (TDPs) on 1 July 2023. In the latest test, which was the ...