Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 51 - 60 of 396 results for "MySuper products"

MySuper index records worst rolling return since 2009

JAMIE WILLIAMSON  |  THURSDAY, 3 NOV 2022
The median return for MySuper products in September was -3.3%, causing the Rainmaker MySuper Index to see its worst annual rolling return since August 2009. For the 12 months to September end, the MySuper index returned -6.4%. It was dragged by the ...

Four MySuper products fail for second time: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
Five MySuper products have failed the second annual MySuper performance test, with four of them failing for a second time. The product that failed this year's performance test for the first time is Westpac Group Plan MySuper. Westpac must now identify ...

ASIC tells super trustees to improve TMDs

ANDREW MCKEAN  |  MONDAY, 29 AUG 2022
... super products, which can only be acquired by consumers actively choosing their product. They don't apply to MySuper products, defined benefit interests or super products that are no longer for issue or sale. Meanwhile, as previously reported by ...

APRA releases annual corporate plan

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
... the transparency provided by the MySuper and Choice heatmaps and the first annual performance test. Of the 13 MySuper products that failed the first annual performance test, ten have either merged, exited, or committed to transfer their members to a ...

Review of YFYS receives mixed response

ANDREW MCKEAN  |  FRIDAY, 8 JUL 2022
... Specifically, Treasury will review whether the performance test has had any significant unintended consequences for MySuper products. Ensuing this treasury review, a pause of the test extension beyond MySuper products for 12 months has been introduced. ...

Performance test expansion paused as government announces review

RACHEL ALEMBAKIS  |  FRIDAY, 8 JUL 2022
Treasury has halted the extension of the Your Future, Your Super (YFYS) performance test beyond MySuper products for 12 months while conducting a review of the laws. Minister for financial services Stephen Jones announced that the review will commence ...

Rest cuts administration fees

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
... our members." Using data from last financial year, Rainmaker Information estimates the average fees for default MySuper products sits at 1%. Since 2011 and 2021, super fund fees dropped by a quarter, with about half of the reductions seen between 2018 ...

July 1 super changes: Are you ready?

CASSANDRA BALDINI  |  THURSDAY, 30 JUN 2022
... For institutions, July 1 sees the expansion of the annual investment performance test that was first applied to MySuper products in 2021. The test, introduced under the Your Future, Your Super reforms, has been extended to trustee-directed products (TDPs) ...

APRA sheds light on YFYS Performance Test

CASSANDRA BALDINI  |  THURSDAY, 16 JUN 2022
... persons who were not holding the product before that day will need to be returned." "APRA expects RSE licensees of MySuper products that failed last year's performance test to be engaging closely with their employer-sponsors, promotors, and other ...

Total super assets grow to $3.4tn

ANDREW MCKEAN  |  WEDNESDAY, 25 MAY 2022
... assets totalled $3.4 trillion at the end of March 2022, a 9.7% increase from the year prior. The total assets in MySuper products now sit at $927.9 billion as at the end of March 2022, which represents a 2.3% quarterly decrease but an annual increase ...