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

Search Results

Showing 11 - 20 of 73 results for "Stapling"

Mergers a boon for super member growth

KARREN VERGARA  |  MONDAY, 19 FEB 2024
... increased competition, a shifting regulatory member focus and the skewed favourability of the Your Future, Your Super (YFYS) stapling legislation, will exert further pressure on funds to achieve membership based strategic objectives." Myers, a former ...

Qantas Super takes merger plans to new heights

JAMIE WILLIAMSON  |  TUESDAY, 5 DEC 2023
... experiences as well as drive down costs per member." It also highlighted the impact of regulatory change, pinpointing fund stapling. "These changes usually make a lot of sense, as we all want a better run and more secure super system. However, some of ...

Payday super a seismic change for the industry: ART

CHLOE WALKER  |  THURSDAY, 19 OCT 2023
... said. "We're moving to a future where everything will happen in payroll. An employee has to onboard digitally, where the stapling of a super fund potentially can be something that feeds into payroll, and you actually take someone's TFN and the credentials ...

Trustees must do better on account consolidation: ASIC

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... about which funds are failing to look out for their members. That said, the Protecting Your Super reforms introduced the stapling of accounts in November 2021, meaning the creation of unintentional duplicate accounts should naturally reduce in time.

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... Legal managing partner Jonathan Steffanoni noted that the "Protecting Your Super" reforms introduced a default account stapling law in November 2021. This law is likely to reduce unintentional duplicate accounts in the future, he said. Steffanoni also ...

Consumer interests prioritised in YFYS review

ANDREW MCKEAN  |  WEDNESDAY, 5 APR 2023
... deserve to know if their fund is a dud, including retirees," ISA said. Despite the government's efforts to streamline stapling administration, ISA stated the teething issues remain, with members still being stapled to underperforming funds that failed ...

Super performance test consultation opens

KARREN VERGARA  |  WEDNESDAY, 5 APR 2023
... the performance test forms a significant tranche of the legislation. The review also found improvements to be made to stapling, stating that those moving to high-risk jobs could have their insurance compromised if their super is stapled to a provider ...

Jones releases Your Future, Your Super review outcomes

KARREN VERGARA  |  TUESDAY, 4 APR 2023
... failure and constraining the trustee's ability to meet its members' objectives," he said. Jones admits that the stapling measures can be improved. "There are concerns with the systems, legal framework and outcomes of stapling that are generating ...

Super disruptors throw in the towel

KARREN VERGARA  |  THURSDAY, 9 FEB 2023
... $20,000 from their accounts, making many providers vulnerable, Rainmaker Information executive director Alex Dunnin said. Stapling, which kicked off in 2021, tied young members to the first superannuation fund they joined and also made it harder for ...

Stapling's consequences must be addressed: Cbus

ANDREW MCKEAN  |  MONDAY, 14 NOV 2022
Cbus has recommended that the stapling provisions in Your Future, Your Super (YFYS) laws be urgently addressed to reverse the uninsurance risk for workers in hazardous occupations. In its submission, Cbus said stapling reforms have led to many members ...