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Search ResultsShowing 1 - 10 of 100+ results for "APRA"
Equipsuper merges with corporate fund
KARREN VERGARA  |  WEDNESDAY, 24 FEB 2021
Equipsuper has merged with a corporate superannuation plan that will add $860 million of assets to the fold. The $16 billion superannuation fund will manage the retirement savings of Toyota Super's 5000 members. Toyota Super chair Rob Purcell said ...
Actuaries Institute names new president
KARREN VERGARA  |  WEDNESDAY, 24 FEB 2021
... create real change," he said. "We need to continue to strengthen relationships with governments, regulators, like ASIC and APRA, and we need to repeat that success with a wider-ranging set of organisations."
Mergers prompt 13% fee drop
KARREN VERGARA  |  TUESDAY, 23 FEB 2021
Members of merged superannuation funds are $15,000 better off in retirement, new research shows. An analysis by Super Consumers Australia (SCA) found MySuper fees of merged entities dropped by 13.4% on average. The consumer advocate group looked at ...
ASIC zeroes in on bad SMSF advice, conduct
KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... trustees such as advisers, auditors and products that SMSFs invest in. The Hayne Royal Commission adjusted the roles of ASIC and APRA in superannuation. From 1 January 2021, ASIC was given more powers in super under the SIS Act , having an expanded remit ...
Aussie dividends slump 40%
KARREN VERGARA  |  MONDAY, 22 FEB 2021
... roughly in line with the global average, and the lowest since mid-2016. Australia was restricted in its dividend payouts by APRA as a result to the pandemic, capping dividends at 50% of profits. From 1 January 2021, APRA lifted the restrictions. "While ...
ATO targets SMSF fraud
ANNABELLE DICKSON  |  MONDAY, 22 FEB 2021
... registering. "This resulted in an estimated $126 million in retirement savings being stopped from being rolled out of an APRA regulated account and rolled into an SMSF where potentially it could have been illegally accessed," Micale said. "We know illegal ...
MTAA Super increases premiums amid merger
ELIZABETH MCARTHUR  |  THURSDAY, 18 FEB 2021
... across all members of the fund. In recent years there has been a push, supported by industry regulators such as ASIC and APRA, for superannuation funds to remove this cross subsidy. "Regardless of the upcoming merger, MTAA Super were going to be removing ...
Westpac prioritises risk management
KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... as complex IT systems, risk management and approach to risk continue to be pain points. The enforceable undertaking with APRA is on track, the bank said, adding that it is expanding its Customer Outcomes and Risk Excellence (CORE) Program to address ...
Westpac to combine Advance super with BT Super
KANIKA SOOD  |  MONDAY, 15 FEB 2021
... member options and about 3460 member accounts (down 19% in two months). Average member had $58,000 in balance, according to APRA statistics. "BT Funds Management Limited...the Trustee of Advance Retirement Suite, has decided to transfer all member interests ...
To merge or not to merge?
ELIZA BAVIN  |  FRIDAY, 12 FEB 2021
... it's not that big is always best," she said. "I think the real determinate we're going to see in this space is what APRA, and others, are going to do in the forced merger space." Meanwhile, Aware super chief executive Deanne Stewart said that ...
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