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Showing 451 - 460 of 1434 results for "The Age"

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
Westpac's customer compensation bill has added $341 million in the second half of 2019, bringing the remediation total to $958 million for the year. Westpac chief executive Brian Hartzer said: ""A key priority in 2019 has been to deal with outstanding ...

Trillionaires around the corner: study

KANIKA SOOD  |  FRIDAY, 18 OCT 2019
... last five years, the projections said. But the youngest one to cross the milestone is expected to be Mark Zuckerberg at the age of 51. Next in line after Bezos is Chinese real estate developer Xu Jiayin, who started his career as a technician at a steel ...

Investors deluded on returns

ELIZABETH MCARTHUR  |  FRIDAY, 4 OCT 2019
... millennials who have an income expectation of 12.9%. Generation X expects 10.8%, baby boomers expect 9.2% and investors over the age of 71 only expect 7.7%. Schroders chief executive for Australia Chris Durack said he could understand why millennials ...

Spotlight on super welcomed

HARRISON WORLEY  |  FRIDAY, 27 SEP 2019
The government's move to include compulsory superannuation in its retirement income review has been welcomed by the financial services sector. Responding to the government's establishment of a review of the retirement income system, the peak ...

Businesses warned to avoid dud funds

ELIZA BAVIN  |  MONDAY, 23 SEP 2019
Rainmaker research has shown the difference between the best and worst performing super funds can equate to a difference of up to $880,000 in balances for retirees. The research shows the worst performing funds are paying 5.3% return, a big difference ...

Senate secures members' interest changes

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
Insurance in superannuation is now opt-in only for new members under the age of 25 and those with low account balances, after the government's Putting Members' Interests First super reforms passed through the Senate yesterday. The Senate passed ...

Members' interests bill sits on the precipice

HARRISON WORLEY  |  WEDNESDAY, 18 SEP 2019
... under-25s. The bill contains measures to prevent trustees from providing insurance on an opt-out basis to members under the age of 25 years and begin to hold a new product on or after 1 October 2019, and to members with balances under $6000. The bill ...

Chief economist update: 'Paradox of Thrift' in action

BENJAMIN ONG  |  THURSDAY, 12 SEP 2019
... boiling water. That got Kevin 07's (then Australian Prime Minister Kevin Rudd) attention, didn't it? As headlined in The Age (14 October 2008): "Rudd unveils $10.4b stimulus plan" that "includes pre-Christmas payments of $4.8 billion for pensioners ...

Super debate too one dimensional: Rice Warner

HARRISON WORLEY  |  MONDAY, 26 AUG 2019
... in time. Should the SG rate go to 12%? Is the means test a disincentive to save? Do tax concessions reduce the cost of the Age Pension? Will adequate retirement incomes be achieved?" Rice Warner said. "This is understandable in the context of the daily ...

Complex retirement system requires simplicity: Report

KARREN VERGARA  |  WEDNESDAY, 21 AUG 2019
... outlined a number of reforms needed to help fix the retirement system, one of which involves simplifying and integrating the Age Pension with superannuation and aged care. The report, entitled Options for an improved and integrated system of retirement ...