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Showing 311 - 320 of 1970 results for "Default"

FSC to ban occupational exclusions

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
... introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations. The standard will apply to FSC superannuation and life insurance ...

Big four bank complaints drop

ANNABELLE DICKSON  |  THURSDAY, 7 OCT 2021
... total 42,261 bank complaints. The top five complaints received were due to unauthorised transactions, service quality, default listing, failing to respond to request for assistance and incorrect fees or costs. Over half were resolved at the registration ...

NZ Super Fund delivers 30%

KARREN VERGARA  |  TUESDAY, 14 SEP 2021
... treasury bill return by $13.02 billion (29.4%), as well as its benchmark by $757 million (1.73%). Australian super funds' default strategies delivered a median return of 18.1% p.a. while the Future Fund achieved 22.2% p.a. over the same period. NZ ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... CFS's communication (via letters and calls) may have encouraged members to stay in FirstChoice instead of switching to the default MySuper product. The incidents relate to the period between 18 March 2014 and 21 July 2016. The Royal Commission referred ...

Gauging the Future Fund's MySuper potential

JAMIE WILLIAMSON  |  MONDAY, 6 SEP 2021
As calls for the Future Fund to become Australia's default superannuation manager are renewed, Rainmaker Information has run the numbers on what that might look like. Speculation over whether the sovereign wealth fund should be charged with managing ...

Occupational exclusions under scrutiny

KARREN VERGARA  |  FRIDAY, 3 SEP 2021
... and what options may be required for changes to the current regulatory framework. Occupational exclusions occur when the default insurance cover is not available or only partially available for certain occupations that an insurer has classified as higher ...

Bragg renews calls for Future Fund to manage super

KANIKA SOOD  |  FRIDAY, 20 AUG 2021
... "closed cartel" with high fees, low competition, and non-meritocratic fund flows. As a solution, it proposes every standard default superannuation to be held by a single fund overseen by an independent board of trustees, with the capacity for Future ...

APRA issues guidance on lifecycle products for performance test

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
... warned funds to not sneak in returns from other super products into MySuper returns while combining returns from multiple default products. In cases of mergers, the continuing MySuper product's performance will be used for the test. Earlier this ...

Every super fund should cover every occupation: FSC

KANIKA SOOD  |  FRIDAY, 13 AUG 2021
... group insurance cover for members working in hazardous occupations after stapling. FSC said if a MySuper product's default life insurance cover has occupations-based exclusions, a member working in one of those occupations may be unable to claim ...

Active Super rejigs MySuper

KANIKA SOOD  |  MONDAY, 9 AUG 2021
... impact the way investment options are managed," the fund said. Lifecycle MySuper was a better bet than single strategy default funds for members below 40 years of age in FY21 as the equity markets rebounded after COVID, according to Rainmaker Information. ...