Search Results | Showing 21 - 30 of 72 results for %22Sole Purpose Test%22 |
| | | MP Tim Wilson has argued industry super funds' ownership of ME Bank is at odds with the sole purpose test as the bank has yet to pay dividends. Following ME Bank's controversial decision to slash redraw balances on some legacy home loans, and ... |
| | | | ... investment capacity." However, the FSC added superannuation funds have legal obligations to invest with regard to the sole purpose test, which requires funds to be maintained for the sole purpose of delivering retirement benefits to members. "Each individual ... |
| | | | ... (less for women), which provides income for around 10-15 years." The report also claims the age pension is "inadequate" as a sole source of retirement funding and said home equity has not been appropriately and effectively made available to improve retirement ... |
| | | | ... special counsel at Mills Oakley, explained the case has ramifications for the ways super funds interpret the sole purpose test. "The sole purpose test is 25 years old and guidance is warranted, especially in what appears to be an era of social and environmental ... |
| | | | ... members and reviewing investment management decision-making processes, he says. "What is clear is that the super sole purpose test means funds have a primary duty to ensure the fund provides benefits to its members on their retirement," he adds. The ... |
| | | | ... of circumstances where services are not provided and substantiate if the deductions are consistent with the sole purpose test and in the best interests of members. They emphasised that "care needs to be taken to ensure that controls do not place undue ... |
| | | | ... conflicts of interest, data and reporting, accountability and remuneration, insurance and inactive accounts, and the sole purpose test. On the issue of the sole purpose test APRA said: "The industry has previously noted that there is ambiguity around ... |
| | | | ... of superannuation regulation, as the industry debates whether bonus frequent flyer points schemes breach the sole purpose test. AustralianSuper is currently offering 20,000 Qantas points to members of the airline's frequent flyer program if they join ... |
| | | | ... Sunsuper has introduced financial advice fee caps to combat unnecessary balance erosion, further ensuring the Sole Purpose Test is met. From this week, the $60 billion industry fund has capped the fees payable to a financial adviser via a clients' ... |
| | | | ... that the regulatory architecture underpinning our system is strong and that the best interests covenant, and sole purpose test, set high standards for trustees operating superannuation funds." Fahy said it will be important to work through each of the ... |
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