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Showing 71 - 80 of 559 results for "MySuper Product"

Four MySuper products fail for second time: APRA

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
... collectively to calculate a single performance return. The combined eight-year performance of our Westpac Group Plan MySuper product failed the annual performance assessment." In a further statement, a BT spokesperson said: "We have worked hard to improve ...

ASIC tells super trustees to improve TMDs

ANDREW MCKEAN  |  MONDAY, 29 AUG 2022
ASIC is calling on superannuation trustees to review and improve the effectiveness of target market determinations (TMD) for their products. The regulator's request follows a sample review of trustee compliance that found some poor practices. ASIC ...

APRA releases annual corporate plan

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
APRA published its updated plan to reinforce the financial soundness of the banking, insurance and superannuation industries over the next four years, with few surprises on offer. The priorities in APRA's new Corporate Plan for 2022-2023 are based ...

APRA to improve strategic planning, member outcomes rules

JAMIE WILLIAMSON  |  MONDAY, 1 AUG 2022
... is cancelled. Provisions will include a requirement for an RSE licensees to transfer the assets of a cancelled MySuper product into another MySuper product. This will also be open to consultation later in the year. "SPS 515 sought to instil in superannuation ...

Review of YFYS receives mixed response

ANDREW MCKEAN  |  FRIDAY, 8 JUL 2022
The government's Treasury review into the operation of the Your Future, Your Super (YFYS) laws and MySuper performance tests has had a mixed reception. Assistant treasurer and minister for financial services Stephen Jones said the government is ...

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
The industry fund has reduced asset-based administration fees across Rest Super, Rest Corporate and Rest Pension, saying its total fees are now at least 25% less than the industry average. Rest's asset-based admin fees, which are capped at $300, have ...

July 1 super changes: Are you ready?

CASSANDRA BALDINI  |  THURSDAY, 30 JUN 2022
As we celebrate the 30th birthday of the Superannuation Guarantee, the new financial year brings with it plenty of changes to super. Here's what you need to know. From tomorrow, significant changes to superannuation and its surrounding legislation ...

APRA sheds light on YFYS Performance Test

CASSANDRA BALDINI  |  THURSDAY, 16 JUN 2022
... history where it granted a new My Super product authorisation based on material goodwill. "Where APRA grants a new MySuper product authorisation under the material goodwill provision, APRA is satisfied that the previously authorised MySuper product is ...

Total super assets grow to $3.4tn

ANDREW MCKEAN  |  WEDNESDAY, 25 MAY 2022
APRA's latest quarterly superannuation performance statistics show the industry's total assets increased almost 10% over the past year. Super assets totalled $3.4 trillion at the end of March 2022, a 9.7% increase from the year prior. The total assets ...