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Showing 21 - 30 of 559 results for "MySuper product"

Super performance test needs personal rate of return: Adviser

KARREN VERGARA  |  THURSDAY, 15 AUG 2024
APRA's annual superannuation performance test fails to consider results where it truly matters - at the member level - and ends up missing the mark on ensuring positive member outcomes, according to a financial advice expert advocating for better ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... $23 million has been set aside to remediate super fund clients whose contributions weren't directed into a MySuper product when they should have been; this conduct has also led to Insignia Financial entering a court enforceable undertaking with APRA ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... identify more superannuation members that were impacted by its failure to direct default contributions into a MySuper product. It has also been issued a $10.7 million infringement notice. According to APRA, the entity has committed 684 offences of "failure ...

Aware Super delivers 11.02% to default members

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... robust and, indeed, returns have also been strong across other asset classes," Graham said. "Older members with our MySuper product also take great comfort from the lifecycle approach, knowing the risk in their investments is pared back as they approach ...

Performance test covers managed accounts, SMAs: APRA

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
The prudential regulator is reminding trustees that managed accounts and separately managed accounts (SMAs) are high on its radar when administering the performance test. APRA told trustees that SMAs and other managed accounts can fall into the TDPs ...

Retail funds drive down admin fees: KPMG

KARREN VERGARA  |  TUESDAY, 28 MAY 2024
Expensive retail superannuation funds have finally become competitive with industry 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% ...

Performance test needs better metrics, durability

KARREN VERGARA  |  MONDAY, 6 MAY 2024
The superannuation performance test has several shortcomings that must be addressed in Treasury's latest round of consultation so it is fair and sustainable, the Actuaries Institute Summit heard. Mercer associate Kieran Chu said while the Your Future ...

Vanguard backs current performance test

ANDREW MCKEAN  |  FRIDAY, 19 APR 2024
championing its effectiveness in eliminating underperforming investment options and improving member outcomes. "At present, it is the only option presented that is objective, efficient, and timely to administer for both APRA and super funds and has ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... to 30 June 2023 were $134 billion, while $76 billion was paid out in benefits. The average account balance in a MySuper product is just shy of $64,000, while the average balance overall is $111,380.

How young Australians are missing out on better super returns

ANDREW MCKEAN  |  TUESDAY, 12 DEC 2023
Young Australians are missing out on higher superannuation returns by parking their retirement savings in default MySuper products, instead of exploring other investment options. Analysis of APRA data by Innova Asset Management revealed that an all-equities ...