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

Search Results

Showing 71 - 80 of 221 results for "performance test"

Labor advances super performance test changes

KARREN VERGARA  |  MONDAY, 19 JUN 2023
As the government unveils a raft of updates to the superannuation performance test, due to take effect in August, some trustees are worried that it subjects Choice products to a rigid criterion. As previously flagged, all products will be subject to ...

Industry bodies respond to QAR recommendations

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
The wealth management industry has broadly welcomed the bulk of the Quality of Advice Review recommendations Labor will prioritise, with many agreeing that the reforms will fix financial advice and ultimately benefit consumers. In releasing the first ...

Heatmaps drive efficiencies, more consolidation: Cole

CHLOE WALKER  |  FRIDAY, 2 JUN 2023
Speaking at a standing committee this morning, deputy chair Margaret Cole noted that the heatmaps and performance tests have created a more efficient and transparent superannuation system that will ultimately drive more consolidation. While that might ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
... Advice Association Australia (FAAA) has criticised Treasury for neglecting to consult on draft Superannuation Performance Test reforms. FAAA chief executive Sarah Abood voiced concerns regarding the proposal and process of the Performance Test. "It is ...

Jones calls for taxonomy to clarify greenwashing

RACHEL ALEMBAKIS  |  WEDNESDAY, 3 MAY 2023
... put the work into the taxonomy." Jones also indicated that government is reviewing the Your Future, Your Super performance test to ensure long-term goals like the government's net zero target and other issues like biodiversity and just transition ...

YFYS sanctions don't help existing members: ISA

CHLOE WALKER  |  THURSDAY, 27 APR 2023
... administration fees. "Yet the government recently decided to carve out of historical administration fees from the YFYS performance test, which hides the product's true performance and opens the test to manipulation," it argued. In early April, the government ...

APRA consults on approach to combining product histories

JAMIE WILLIAMSON  |  THURSDAY, 20 APR 2023
... MySuper products for which performance histories are required to be combined for the YFYS test. Currently, the performance test involves two situations where performance may need to be combined, being within-product changes and across-product changes. ...

Super fund selection driven by fees: SCA

ANDREW MCKEAN  |  THURSDAY, 13 APR 2023
... performing products should be disqualified from the system, and commend the Federal Government for expanding the performance test to more super products. That being said, it's essential the test is expanded to products in the retirement phase as ...

ASIC warns super funds on member communication failure

KARREN VERGARA  |  WEDNESDAY, 12 APR 2023
Superannuation funds that fail the performance test downplay their results and obfuscate members from understanding critical information, according to the corporate regulator. ASIC has criticised super funds that failed the performance test two years ...

YFYS recommendations not enough: AIST

JAMIE WILLIAMSON  |  THURSDAY, 6 APR 2023
... struggle to take meaningful action," she said. She also noticed that the government announcement focused on the performance test, rather than other elements like the YourSuper comparison tool, adding that she is disappointed the government had not acted ...