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

Search Results

Showing 51 - 60 of 940 results for "Superannuation Trustees"

How to simplify super to get better retirement outcomes: Mercer

ANDREW MCKEAN  |  MONDAY, 13 JAN 2025
... foreseeable future. Therefore, "we need to find another way," the report said. Mercer recommended that superannuation trustees be allowed to offer members aged between 65 and 75 the option to transfer their accumulated benefit into an eligible retirement ...

Trustee valuation processes 'concerning': APRA review

JAMIE WILLIAMSON  |  TUESDAY, 17 DEC 2024
Many superannuation trustees have been told they must improve their valuation governance practices, with APRA finding just 11 have dedicated valuation committees while others involve staff members whose remuneration is tied to asset values in the process. ...

Hostplus' AFCA complaint response times lag

ELIZA BAVIN  |  MONDAY, 16 DEC 2024
... the average industry time of 24 days, according to ASIC's 2022 report Snapshot of complaints handling by superannuation trustees. The report also outlined how long the fund takes to deliver a death benefit claim from the notification of death to the ...

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC commissioner Alan Kirkland had told financial advisers and superannuation trustees that more needs to be done to ensure better retirement outcomes for Australians. It comes after ASIC released its superannuation choice products and their focus ...

Regulators warn of possible issues with FAR reporting

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
APRA deputy chair Margaret Cole and ASIC deputy chair Sarah Court have sent a letter to superannuation trustees reminding them of their obligations under the Financial Accountability Regime (FAR) before it takes effect next year. The FAR commenced for ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
ASIC has issued new regulatory guidance for financial advisers and superannuation trustees relating to four strands of the Delivering Better Financial Outcomes (DBFO) reforms. The regulator issued two new documents regarding fee arrangements: Information ...

HESTA to pay members impacted by COVID revaluations

ELIZA BAVIN  |  TUESDAY, 19 NOV 2024
... out-of-cycle revaluations of unlisted assets were not adequate for the deteriorating market conditions faced by superannuation trustees in March 2020. In addition, APRA said it was concerned that HESTA's valuation decision in March 2020 was unfair ...

Lack of action on menopause driving gender inequity

JAMIE WILLIAMSON  |  MONDAY, 18 NOV 2024
... their retirement savings; 36% are significantly behind. In 2023, modelling by the Australian Institute of Superannuation Trustees - now part of Super Members Council - estimated menopause is costing Australian women about $17 billion in lost earnings ...

ASIC escalates super fund enforcement in 2025

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... the microscope on potential conflicts of interests and if directorship obligations are being fulfilled. "Superannuation trustees, in our view, are no different from any other big end of town company," Court said. "We take these actions because we are ...

ASIC sues Cbus over insurance claim delays: 'We're sorry'

ELIZA BAVIN  |  TUESDAY, 12 NOV 2024
... Australians trying to access the financial support to which they are entitled. The systemic failure by superannuation trustees to deliver essential member services in a timely manner is a key priority for ASIC and we will continue to take action to hold ...