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FEATURE: 2014 year in review

MARK SMITH, LAURA MILLAN, JAMES FERNYHOUGH  |  FRIDAY, 12 DEC 2014
... insurance premiums has skyrocketed in the past few months while profit has plunged, especially within group insurance. On top of that, over the last few months super funds have been, one by one, renegotiating their contracts with their life insurers. ...

Solve super tax inequity, says Murray

JAMES FERNYHOUGH  |  THURSDAY, 11 DEC 2014
... well targeted", with "a small minority of members" holding "a high proportion of superannuation assets." The members in the top income decile get almost 40% of the total benefits of superannuation concessions. The second highest decile receive just under ...

Oil slide, CEO pay and that "income recession"

BENJAMIN ONG  |  THURSDAY, 11 DEC 2014
... in a confidence recession... for the little guys like you, I and Irene, that is. For there's no lack of confidence at the top. Not only confident would I be, but I'll be twisting and shouting and dancing whoppa gangnam style if I get even only a fraction ...

Macquarie executive tops industry salary survey

MARK SMITH  |  WEDNESDAY, 10 DEC 2014
... Flexi Group's Tarek Robbiati raked in more than $2 million each. Other notable financial services executive making it into the top 200 of highest paid executive across all industries were Mortgage Choice chief executive Michael Russell and Bentham IMF ...

The Grinch is stealing Christmas

BENJAMIN ONG  |  TUESDAY, 9 DEC 2014
... US$66.14 a barrel; WTI oil's down 4.3% to US$63.04 per barrel, also a five-year low. Prices could slide even lower for on top of excess crude supply, the largest oil producer -- Saudi Arabia - is engaging in outright price discounting, and on top of ...

Industry funds reject majority independent directors

JAMES FERNYHOUGH  |  MONDAY, 8 DEC 2014
... not-for-profit funds would deliver better outcomes to members. These funds already significantly outperform with all but two of the top 50 funds over the last decade adopting the equal representation system of governance." AustralianSuper, meanwhile ...

Market Wrap AM

AAP  |  MONDAY, 8 DEC 2014
The Australian market looks set to open higher after Wall Street's Dow and S&P 500 reached fresh record highs on good jobs figures. At 0748 AEST on Monday, the December share price index futures contract was up 27 points at 5,360. The Dow closed just ...

Murray's FSI: consumers win round one

ALEX DUNNIN  |  SUNDAY, 7 DEC 2014
Everything is political and especially so with the super-charged high stakes poker game on display in the Financial System Inquiry (FSI) where the battle lines were quickly drawn between financial product providers versus consumers. And after listening ...

MTAA hails 'a third, a third, a third' board structure a success

JAMES FERNYHOUGH  |  FRIDAY, 5 DEC 2014
... Brumby to see how it has gone. MTAA Super's woes during the global financial crisis, during which it plunged from the very top to the very bottom of the performance league tables, led to a massive overhaul of the way the fund was governed. Leeanne Turner ...

ATO cold calling to test SMSF trustees

LAURA MILLAN  |  FRIDAY, 5 DEC 2014
The Australian Taxation Office is calling self-managed super fund (SMSF) trustees to test their fund knowledge and restricting their ability to operate the fund if they fail. Legal document provider Topdocs said in a technical article that "examples ...