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Showing 1 - 10 of 100+ results for "APRA"

Super funds to reach $1tn by 2040: KPMG

ANDREW MCKEAN  |  FRIDAY, 27 MAY 2022
... But, in the three years between 2017 and 2019 there were 17 successor funds transfers and another 17 between 2020 and 2021. APRA has encouraged funds to continue to consider merger options and disclosed its view on the sustainability of several funds ...

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 ...

Super home buyer scheme fails to move the needle

ANDREW MCKEAN  |  WEDNESDAY, 18 MAY 2022
... super to make a home purchase, the transfer would hardly cover the pace of last year's house price increase. According to APRA, it's not until men get to age 45 and women turn 50 that their average bank account balance hits the $50,000 threshold afforded ...

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

ANDREW MCKEAN  |  TUESDAY, 17 MAY 2022
At the FINSIA 'The Regulators' event, APRA chair Wayne Byres has detailed the regulator's foremost superannuation priorities. Australia's superannuation system is the envy of the world, but Byres said it could be better. Having initially praised the ...

APRA identifies NESS Super board deficiencies

JAMIE WILLIAMSON  |  FRIDAY, 13 MAY 2022
APRA has told the $1 billion super fund to improve its governance after a review found deficiencies with its board. The directions follow a review of NESS Super's governance and an independent review conducted by NESS which identified skill gaps ...

AIST proposes crisis preparedness standards to APRA

ANDREW MCKEAN  |  WEDNESDAY, 11 MAY 2022
... difficulty of implementing industry-wide rulesets and has released its future crisis contingency planning recommendations to APRA. In its submission, the AIST said the balance of risks and credible recovery options for each sector and entity would vary ...

SMSFA collaborates with APRA on rollover improvements

ANDREW MCKEAN  |  FRIDAY, 22 APR 2022
The SMSF sector has been plagued with delays when rolling over funds from APRA regulated funds to SMSFs, so the industry body is working with the regulator with the hope of improving processes. SMSF Association deputy chief executive and director of ...

Regulators release crypto, cyber security roadmaps

CHLOE WALKER  |  THURSDAY, 21 APR 2022
... individuals that engage in activities associated with crypto assets, as well as a policy roadmap for the future. In particular, APRA expects that all regulated entities will conduct appropriate due diligence and a comprehensive risk assessment before ...

APRA, ASIC publish life claims and disputes data

ANDREW MCKEAN  |  WEDNESDAY, 20 APR 2022
APRA and ASIC have released the latest Life Insurance Claims and Disputes Statistics publication that presents key industry-level claims and dispute outcomes. The publication featured outcomes for 20 Australian life insurers writing direct business ...

Millennial super fund fails to GROW

JAMIE WILLIAMSON  |  TUESDAY, 19 APR 2022
... Super product within OneSuper." At the end of 2021, GROW Super had $47.18 million in funds under management, according to APRA data. In a 2018 interview with FS Super, the fund said it had close to $50 million. GROW Super was transferred to OneSuper ...
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