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DomaCom launches senior equity release product

ELIZABETH MCARTHUR  |  THURSDAY, 13 JUN 2019
... accumulation clients such as SMSFs - who may have a similar time horizon in terms of their respective needs. Seniors can apply to sell a fraction of their home with this product and must nominate the amount they then wish to receive as a lump sum or ...

Super fund set to hike fees

HARRISON WORLEY  |  WEDNESDAY, 12 JUN 2019
... benefits and award-winning services that our members expect from BUSSQ," the fund said. BUSSQ confirmed the change would not apply to members who only hold an income account, but said an increase to the fund's management costs would be applied across ...

Industry fund names chief risk officer

KARREN VERGARA  |  THURSDAY, 6 JUN 2019
... serve our customers," he said. Anthony commented: "I look forward to working with the executive team and the business to apply my industry knowledge to the role and responding to industry change as we continue to be member-focused." Nikki Schimmel vacated ...

Navigating the new Pensioners Loan Scheme

KANIKA SOOD  |  THURSDAY, 6 JUN 2019
Age pensioners may be able to borrow up to $54,000 against their family home from July 1 but retirees must weigh individual circumstances before applying for the revamped Pensioners Loan Scheme, says AMP. The scope of the Pensioners Loan Scheme, which ...

Minimum wage rises by 3%

HARRISON WORLEY  |  TUESDAY, 4 JUN 2019
... increase by 3% to $19.49 per hour. Effective from the first full pay period starting on or after July 1, the increase will apply to all employees whose pay rates are determined by the NMW or a modern award, and employees who aren't covered by an award ...

TAL offers advisers ethics assistance

HARRISON WORLEY  |  TUESDAY, 4 JUN 2019
The life insurer will offer a training course to help financial advisers apply the Financial Adviser Standards and Ethics Authority's code of ethics. In an effort to help advisers apply the code, TAL is offering a course via its risk academy. Run by ...

Chief economist update: The rate cut Australia has to have

BENJAMIN ONG  |  TUESDAY, 4 JUN 2019
... Regulations Authority's (APRA) announcement its ditching its minimum 7% serviceability interest rate banks are required to apply when lending to borrowers (on top of doing away with its restrictions limiting banks' loans to 30% of new interest-only ...

Super fund increases premiums

KARREN VERGARA  |  FRIDAY, 31 MAY 2019
... death-only cover will go from 71 cents to 86 cents per week. For members assessed on non-standard rates, the new prices apply: death and TPD cover will increase from $2.77 to $3.23 per week; while death-only cover will move from $1.38 to $1.67 per week. ...

Chief economist update: The power of one

BENJAMIN ONG  |  TUESDAY, 28 MAY 2019
... Regulations Authority's (APRA) announcement it is ditching its minimum 7% serviceability interest rate banks are required to apply when lending to borrowers (on top of doing away with its restrictions limiting banks' loans to 30% of new interest-only ...

Chief economist update: Like Britney Spears, Financial Standard's done it again

BENJAMIN ONG  |  THURSDAY, 23 MAY 2019
... Regulations Authority's (APRA) announcement it is ditching its minimum 7% serviceability interest rate banks are required to apply when lending to borrowers (on top of doing away with its restrictions limiting banks' loans to 30% of new interest-only ...