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| | | ... Australia will not be easy," he said. "The impact of COVID-19, in addition to account consolidation, the protecting your super package and other pressures, will accelerate the challenges for some funds, especially as billions of dollars have already ... |
| | | | Fears super funds with memberships concentrated in the industries hit hardest by the COVID-19 shutdown would feel the pain of early release more are proving largely unfounded, with funds of all kinds seeing withdrawals. While much speculation surrounded ... |
| | | | ... communications." Tully added that reacting to short-term market movements can have an impact on the long-term performance of your super. "It's crucial for members not to lose sight of their long-term goals and personal investment objectives and seek ... |
| | | | ... mandates. Additionally, $205 million was written off as impacts from the implementation of the government's Protecting Your Super legislation. Even when taken without those impacts, AMP's Australian wealth management arm still suffered to the tune of ... |
| | | | ... place and those who deliberately flout the rules could face severe penalties," Dean said. "It is tempting to tap into your super early, some may want to do so as a savings buffer, but nothing in life is for free and cracking open your nest egg comes ... |
| | | | ... to reduce premiums in May 2018, but premiums were also then increased from 1 June 2019 on the back of the Protecting Your Super reforms by an average of 17% for death, 38% for TPD and 9% for income protection. The fund also moved to assure members that ... |
| | | | ... required to remain a member of AFCA for the next 12 months. In one of two other cancellations, ASIC canned the license of Your Super Life, an organisation that assisted with the consolidation of super funds and establishment of SMSFs. "You Super Life ... |
| | | | Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%. Members of Crescent Wealth Super, Members of Defence Bank, Bankfirst and ... |
| | | | ... changes will need to be implemented," McMurtrie said. The administrator is also currently working through the Protecting Your Super and Putting Members' Interests First reforms. Link hasn't ruled out increasing its workforce to accomodate the ... |
| | | | ... situation. "You can take comfort in knowing these people are highly experienced specialists and they're focussed on you and your super," Silk said. Silk told customers that its balanced investment option, where the majority of members have their super ... |
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