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Showing 31 - 40 of 76 results for %22Putting Members%27 Interests First%22

Year-long delay for super merger

KANIKA SOOD  |  TUESDAY, 26 MAY 2020
... previously sent to members will hold except a change in insurance arrangements to accommodate Putting Members Interests First (PMIF) legislation. Earlier this month, Perpetual delayed a successor fund transfer of its MySuper product to CareSuper citing ...

How PYS changes caused 34% premium hikes

ELIZABETH MCARTHUR  |  THURSDAY, 2 APR 2020
... policies with taking into account the impact of the PYS legislation. "We have modelled the PYS/Putting Members Interests First impacts by calculating the 'excluded premiums' and the 'excluded claims' that will occur as a result of the changes caused ...

PMIF sees premiums rise for first time in 12 years

ELIZABETH MCARTHUR  |  WEDNESDAY, 1 APR 2020
... workers has had to increase its insurance premiums for the first time in 12 years as a result of the Putting Members Interests First legislation. ESSSuper put insurance premiums on death only and death and total and permanent disability up by 5%. Income ...

Early access nightmare for administrators

ELIZABETH MCARTHUR  |  MONDAY, 30 MAR 2020
... to be implemented," McMurtrie said. The administrator is also currently working through the Protecting Your Super and Putting Members' Interests First reforms. Link hasn't ruled out increasing its workforce to accomodate the changes, with McMurtrie ...

Group premiums rise 34%

ELIZA BAVIN  |  WEDNESDAY, 4 MAR 2020
... were as a result of recent legislative changes, such as the introduction of the Protecting Your Super (PYS) and Putting Members' Interests First (PMIF) legislation. Defence Bank Super said TAL advised that the legislative changes have "created pricing ...

Cbus overhauls insurance offering

JAMIE WILLIAMSON  |  MONDAY, 2 MAR 2020
... fund also said the cost of implementing two major legislative changes - Protecting Your Super and Putting Members Interests First - and an increase in disability claim volumes requires an overall increase in the rates charged by its group insurer, TAL. ...

Link's superannuation arm takes a hit

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... was due to a combination of client losses and the impact of regulatory reforms, including the Putting Members Interests First and Protecting Your Super legislation. However, Link pointed to "strong underlying member growth" and improved fee for service ...

Industry fund bumps up premiums

JAMIE WILLIAMSON  |  FRIDAY, 14 FEB 2020
... VicSuper has notified members their insurance premiums are increasing as a result of the Protecting Your Super and Putting Members' Interests First reforms. Improvements to its policy and the number of claims paid out are also factors, the fund said. ...

Class action accuses CFS of dodgy insurance fees

ELIZABETH MCARTHUR  |  THURSDAY, 23 JAN 2020
... subsidiaries of vertical integration. "This appears to have been a mutually beneficial arrangement that had the effect of putting profits ahead of people," she said. Woodsford Litigation Funding is funding the class action. It relates to FirstChoice ...

Future of life insurance in doubt: APRA

ELIZABETH MCARTHUR  |  FRIDAY, 17 JAN 2020
... resilient. Protecting Your Superannuation legislation removing life insurance for low-balance super members and Putting Members' Interests First making life insurance opt-in for members under the age of 25 were also acknowledged as contributing to turbulent ...