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Showing 41 - 50 of 119 results for "Protecting Your Super"

AMP bleeds $18 billion

HARRISON WORLEY  |  THURSDAY, 23 APR 2020
... mandates. Additionally, $205 million was written off as impacts from the implementation of the government's Protecting Your Super legislation. Even when taken without those impacts, AMP's Australian wealth management arm still suffered to the tune of ...

AustralianSuper increases premiums

JAMIE WILLIAMSON  |  THURSDAY, 9 APR 2020
... to reduce premiums in May 2018, but premiums were also then increased from 1 June 2019 on the back of the Protecting Your Super reforms by an average of 17% for death, 38% for TPD and 9% for income protection. The fund also moved to assure members that ...

How PYS changes caused 34% premium hikes

ELIZABETH MCARTHUR  |  THURSDAY, 2 APR 2020
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%. Members of Crescent Wealth Super, Members of Defence Bank, Bankfirst and ...

Early access nightmare for administrators

ELIZABETH MCARTHUR  |  MONDAY, 30 MAR 2020
... changes will need 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 ...

Call for pause on default insurance changes

HARRISON WORLEY  |  FRIDAY, 20 MAR 2020
... passing in 2019, the government's flagship insurance reforms - the Putting Member's Interest First and Protecting Your Super bills - are set to cancel default insurance inside superannuation for members under the age of 25, with less than $6000 ...

Group premiums rise 34%

ELIZA BAVIN  |  WEDNESDAY, 4 MAR 2020
... informed members the changes 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 ...

Cbus overhauls insurance offering

JAMIE WILLIAMSON  |  MONDAY, 2 MAR 2020
... substantially reduced," Cbus said. The 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 ...

Link's superannuation arm takes a hit

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... 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 revenues as keys to underpinning ...

IOOF profits fall 39%, advice margins drop

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
... December end. The six months brought net inflows of $1.5 billion but this growth was offset by impact of Protecting Your Super and margin compression. Gross margins were also affected by legislative changes and competition, IOOF said. Governance costs ...

Industry fund hikes admin fees

ELIZA BAVIN  |  MONDAY, 17 FEB 2020
A $3 billion industry super fund is the latest to hike fees ahead of the Protecting Your Super (PYS) and Putting Members Interest First (PMIF) legislation. First Super announced an increase to its administration fee, going from $1.50 per week to $2.25 ...