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Showing 31 - 40 of 114 results for "Retirement income covenant"

'Our patience is running thin': ASIC

ELIZA BAVIN  |  THURSDAY, 15 AUG 2024
... delivering strong returns and balances is only part of the job. "Two years on from the implementation of the Retirement Income Covenant, we are still having the same conversations. Equally, we're still seeing a lack of urgency in improving member services ...

APRA heightens expectations around trustees' spending

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... in trustees' strategic and business planning, financial resource management, implementation of the retirement income covenant and fund transfers." The regulator wants to ensure that all decisions, particularly around expenditure, are made with members' ...

Retirement Income Covenant still weak: APRA, ASIC

KARREN VERGARA  |  TUESDAY, 2 JUL 2024
... robust retirement income strategies and failed to integrate this mandate into their business plans. The Retirement Income Covenant, which was mandated on 1 July 2022, requires trustees to design a strategy for retirees that maximise expected retirement ...

Deloitte eyes more mergers and product innovation

ANDREW MCKEAN  |  FRIDAY, 22 MAR 2024
... savings with not drawing down too slowly and living more frugally than necessary, the report said. The Retirement Income Covenant (RIC) aims to improve outcomes for members, but funds lack complete information on their members. As such, trustees must ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... through to us?" she said. One example is the federal government floating the possibility of making the Retirement Income Covenant applicable to SMSFs. "I don't know that it should but, clearly, it's going to be [mandatory] for APRA-regulated ...

Super funds lack data for effective retirement assistance: Study

ANDREW MCKEAN  |  MONDAY, 5 FEB 2024
... retirement income certainty preferences, hindering effective retirement assistance and compliance with Retirement Income Covenant obligations, research by Capital Preferences and Challenger reveals. The survey of 4000 Australians showed 78% feel unprepared ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... guidance in the coming months and will also review RSE licensees' self-assessments in relation to the Retirement Income Covenant and ASIC and APRA's joint report on progress of implementation from July last year. Following that, it will engage with entities ...

Market performance fails to sway retirement confidence: State Street

ANDREW MCKEAN  |  FRIDAY, 19 JAN 2024
... investment returns," it said. State Street, however, sees a silver lining in retirement income policy. The Retirement Income Covenant, with its objective to maximise, safeguard, and provide flexible access to retirement income, marks a step in the right ...

APRA flags premium volatility in superannuation group life insurance

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
APRA has lifted the lid on the key sustainability challenges of group life insurance in superannuation, notably premium volatility and data availability. At the end of 2022, APRA conducted a survey involving RSE licensees, life insurers, and reinsurers ...

Retirement phase of superannuation consultation opens

KARREN VERGARA  |  MONDAY, 4 DEC 2023
... members' retirement needs and provide products and services tailored for their retirement. Under the Retirement Income Covenant, trustees must undertake an analysis of members to assess member outcomes that could nudge them towards settings that better ...