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Showing 71 - 80 of 114 results for "Retirement income covenant"

Optimum Pensions, Generation Life launch lifetime annuity

CASSANDRA BALDINI  |  WEDNESDAY, 3 AUG 2022
... innovation are required in this space. "The investment linked annuity complements the objectives in the Retirement Income Covenant as it can provide 20-30% higher income than an account-based pension. Since the number of pension units are guaranteed ...

KPMG spotlights super's biggest challenges

ANDREW MCKEAN  |  FRIDAY, 29 JUL 2022
... adds that tax matters relating to mergers remain a significant issue and trustee's responses to the retirement income covenant should have regard to how tax impacts retirement incomes. "Mergers of superannuation funds involve numerous tax considerations ...

Global fintech Smart expands pension offering to Australia

CASSANDRA BALDINI  |  TUESDAY, 12 JUL 2022
... the State of Victoria for their support." The announcement follows last week's introduction of the Retirement Income Covenant, which seeks to provide pension funds with greater flexibility in designing their retirement income strategies. Smart's technology ...

ASIC releases guidance on super, retirement calculators

ANDREW MCKEAN  |  TUESDAY, 5 JUL 2022
... trustees about how they can use calculators and retirement estimates as part of their strategies under the retirement income covenant, which came into effect in July 2022." She added that the updated relief will also provide greater flexibility in how ...

July 1 super changes: Are you ready?

CASSANDRA BALDINI  |  THURSDAY, 30 JUN 2022
... reforms, has been extended to trustee-directed products (TDPs) from July 1. Finally, the long-awaited Retirement Income Covenant (RIC) that has been introduced to the Superannuation Industry (Supervision) Act 1993 also takes effect July 1. It imposes ...

Retirement Income Covenant a win for advisers - but for how long?

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
The long-awaited Retirement Income Covenant comes into effect tomorrow and, with super funds unable to consider members' personal circumstances, there's a view that its introduction could significantly impact the financial advice sector - but ...

Super funds are ready for RIC: Data

CASSANDRA BALDINI  |  TUESDAY, 28 JUN 2022
Super fund leaders are confident they're ready for the fast-approaching Retirement Income Covenant (RIC) deadline. According to research conducted by CoreData, Australian super funds are ready to publish the retirement income strategies needed to ...

You can't have it all: Retirement income strategies

JAMIE WILLIAMSON  |  THURSDAY, 16 JUN 2022
... out the inherent difficulty in designing a retirement product that meets all the objectives of the Retirement Income Covenant. Under the legislation, which is effective July 1, retirement income products provided by super funds must help members achieve ...

A mixed year for super: KPMG

ANDREW MCKEAN  |  MONDAY, 30 MAY 2022
... it and ideally for information to be personalised." KPMG is optimistic that the requirements of the retirement income covenant will deliver better outcomes to members approaching and in retirement. Though, the report did stipulate that to succeed in ...

Good isn't good enough for the super system: Byres

ANDREW MCKEAN  |  TUESDAY, 17 MAY 2022
... also advised that retirement product provisions required greater attention, particularly with the new retirement income covenant soon coming into effect. Byres said: "As the superannuation system matures and an increasing proportion of Australians move ...