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Showing 81 - 90 of 532 results for "MySuper Product"

APRA to weed out underperforming choice products

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
Choice products charge significantly higher and tend to underperform compared to MySuper options, new analysis by APRA finds. Ahead of unveiling the inaugural Choice Product Heatmap, the prudential regulator released staggering statistics that will ...

Future Fund becoming more expensive to operate

KARREN VERGARA  |  THURSDAY, 28 OCT 2021
... management of superannuation have swirled for years. Should this materialise, comparing costs with the average MySuper product would see the Future Fund charge significantly more. Currently, MySuper has a total cost ratio of 1.07% on average (see Figure ...

Default MySuper fees drop to 1%: Rainmaker

JAMIE WILLIAMSON  |  WEDNESDAY, 20 OCT 2021
... in 10 default MySuper products reduced fees in 2020/21, with fees now averaging 1% overall. The average default MySuper product now charges 1.08%, down from 1.13% the previous year. The total expense ratio for not-for-profit and retail funds is now 1.07% ...

CFS fined $20m over super misconduct

JAMIE WILLIAMSON  |  TUESDAY, 19 OCT 2021
... misled members on almost 13,000 regarding investment decisions, possibly deterring them from moving to a cheaper MySuper product. "The $20 million penalty handed down to Colonial is a timely reminder to superannuation trustees not to mislead members ...

Colonial First State seeks MySuper redemption

ANNABELLE DICKSON  |  TUESDAY, 19 OCT 2021
... wealth manager is also facing penalties over its conduct in rolling members out of FirstChoice and into its cheaper MySuper product over a period of two years.

EISS Super answers tough questions

ELIZABETH MCARTHUR  |  TUESDAY, 12 OCT 2021
... balanced approach. "As a fund that had an older membership with a more conservative view, our view around the MySuper product was to offer a product under our PDS that reflected a more conservative focus. We've probably paid the penalty for having ...

FSC to ban occupational exclusions

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
The Financial Services Council (FSC) is introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations. The standard will ...

Lifecycle now MySuper mainstream: Rainmaker

JAMIE WILLIAMSON  |  MONDAY, 11 OCT 2021
The share of funds under management held in lifecycle MySuper options has almost doubled in the last eight years as single strategy products drop off, but member balances at age 65 still don't quite stack up. This is one of Rainmaker Information's latest ...

APRA proposes further unlisted valuation rules

KARREN VERGARA  |  WEDNESDAY, 29 SEP 2021
... benchmarks, approved by the board, to monitor the performance of each investment in each investment option and each MySuper product on an ongoing basis. When reporting the performance of investment options to senior management and the board, super funds ...

Former super fund chief defends tenure

JAMIE WILLIAMSON  |  THURSDAY, 16 SEP 2021
The former chief executive of EISS Super has spoken out about his decision to depart the fund in the wake of media scrutiny and the fund's failure of the APRA performance test. Alex Hutchison resigned as chief executive of EISS Super on September ...