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Showing 651 - 660 of 1260 results for "MySuper"

Retail super funds reject MySuper delays

KARREN VERGARA  |  TUESDAY, 4 SEP 2018
... standards and contravened the Superannuation Industry (Supervision) Act by delaying the transition of members into cheaper MySuper products. In response to recommendations put forth to Commissioner Kenneth Hayne on August 24, many retail funds denied ...

Super assets hit new record

STEPHEN FAY, DARREN SNYDER, KARREN VERGARA  |  THURSDAY, 30 AUG 2018
... Australians' retirement savings reached a record high of $2.7 trillion at the end of June 2018, latest APRA data shows. MySuper continued to grow at a faster rate than other segments to make up 25% of the asset pool. MySuper assets grew 13.6% to $675.6 ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... breached the Corporations Act with regards to three financial advisers moving clients to a choice product and out of a MySuper product. The advisers failed to provide a Statement of Advice and Financial Services Guide, and obtain clients' informed ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... Act on 13,000 occasions after it was unable to determine if First Choice Personal Super members were transferred to a MySuper product before the deadline. Hodge said it was open to the Commissioner to find if CBA and its RSE Colonial First State Investments ...

SMSFs too conservative: Poll

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... are "surprisingly conservative." The Productivity Commission's May 2018 report notes SMSFs are inefficient compared to MySuper products unless they have at least $1 million. The SMSF Association (SMSFA) dismissed this claim arguing that SMSFs are much ...

APRA banned one person in 10 years: Royal Commission

HARRISON WORLEY  |  FRIDAY, 17 AUG 2018
... testimony turned to a Colonial First State letter and call script dissuading superannuation fund members from moving to a MySuper product - which APRA found to be acceptable - Hodge became visibly irritated. Asked if the call script was - on its face ...

Intra-fund advice conflicted: Royal Commission

KARREN VERGARA  |  THURSDAY, 16 AUG 2018
... counsel assisting Michael Hodge continued to flesh out why CFS, a subsidiary of CBA, mishandled transitioning members to MySuper products over a long and messy process. Chun was grilled on intra-fund advice - an arrangement between CFS (the trustee) ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
... replied. Pankhurst also admitted ASIC has previously raised concerns that customers would confuse this product with ANZ's MySuper product of the same name. He said previous marketing collateral for the product wrongly labelled it as a MySuper option. ...

Entertainment spend retains members: Hostplus

KARREN VERGARA  |  WEDNESDAY, 15 AUG 2018
... largely attributable to - well, it's attributable to a number of things, investment performance," Elia said. For its MySuper product, Elia boasted its returns are consistently high compared to the rest of the industry. "It has been one of the best ...

Poor systems delay MySuper transitions: CFS

KARREN VERGARA  |  WEDNESDAY, 15 AUG 2018
... morning's Royal Commission hearing, contributing to what Colonial First State admits was a lengthy transition of members to MySuper products. CFS executive general manager Linda Elkins blamed the limitation of CBA's systems and lack of operational ...