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Showing 41 - 50 of 196 results for superannuation industry regulations

Concern for consumers ahead of YFYS

ELIZABETH MCARTHUR  |  MONDAY, 7 JUN 2021
... said: "The test may, in some cases, be to the substantial long-term detriment of members." Actuaries Institute superannuation practice committee Tim Jenkins said asset allocation is disregarded in the test. "As a result, the proposed performance test ...

Labor won't support YFYS Bill in current form

KANIKA SOOD  |  FRIDAY, 30 APR 2021
... committee's final report, Labor took issue with seven main features of the Bill: power to the Treasurer to override superannuation trustee's investment or payment decisions, stapling to underperforming funds, inadequate insurance for some Australian ...

Draft regulation on YFYS released

KANIKA SOOD  |  WEDNESDAY, 28 APR 2021
... test; strengthen the focus of the test on investment outcomes delivered to members; and ensure that Australian superannuation funds can invest with confidence in these domestic assets," federal treasurer Josh Frydenberg and minister for superannuation ...

Senate report on YFYS reforms delayed

KANIKA SOOD  |  THURSDAY, 22 APR 2021
The senate economic committee's report on Your Future, Your Super reforms has been delayed by a week, as superannuation funds await specifics ahead of the proposed July 1 start date. The senate economics legislation committee, chaired by Liberal senator ...

AustralianSuper subverts stapling logic

KARREN VERGARA  |  FRIDAY, 9 APR 2021
Australia's largest superannuation fund is taking issue with the proposed stapling regulations, arguing that the model is backwards and will not protect members from being stuck in dud funds. AustralianSuper chief executive Ian Silk shot down media ...

APRA calls out poor group insurance practices

KARREN VERGARA  |  TUESDAY, 9 MAR 2021
... for several practices it deems disagreeable, casting doubt over the future viability of insurance provided via superannuation. APRA recently wrote to superannuation funds and life insurers, criticising a list of practices that are resulting in poor outcomes ...

Wage subsidy to rescue advice industry

ELIZABETH MCARTHUR  |  FRIDAY, 12 FEB 2021
... looking for a very particular brand of adviser. "Most super funds prefer advisers that come from a background within superannuation or larger corporate and who have a strong technical knowledge of superannuation," he says. "Advisers with a proven track ...

ASIC defers portfolio holdings disclosure deadline

KARREN VERGARA  |  WEDNESDAY, 9 DEC 2020
ASIC has given superannuation funds another year to disclose their portfolio holdings. The regulator has extended the relief, which defers the first reporting day to 31 December 2021. The relief was set to expire on 31 December 2020, requiring trustees ...

FSC calls for scaled advice model

ALLY SELBY  |  TUESDAY, 11 AUG 2020
... seen a surge in demand for financial advice on issues relating to redundancies, retirement, life insurance and superannuation, the FSC said. Yet, increased costs and regulation continue to obstruct the delivery of advice. With the median cost of up-front ...

Industry bodies work to ease regulatory burdens

ELIZABETH MCARTHUR  |  FRIDAY, 3 APR 2020
... ensure you can scope the advice quickly and efficiently for the client to deal with, for example, taking money from superannuation." Marshan sees shorter, more targeted fact finding processes and regulatory relief around the Statement of Advice as moves ...