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Showing 1 - 8 of 8 results for "ASFA Standard"

ASFA publishes new service standards on claims handling

ELIZA BAVIN  |  FRIDAY, 4 JUL 2025
... called out the superannuation industry on numerous occasions this year around poor claims handling times. The new ASFA standard applies to insurance claims and certain claims for early release of superannuation benefits due to ill health. The new standard ...

ASFA Retirement Standard hits record high

ANDREW MCKEAN  |  WEDNESDAY, 13 MAR 2024
... up retiree budgets - home and content insurance, fruit and vegetables, fuel and electricity - begin to ease." The ASFA Standard covers everyday expenses like health, communication, clothing, and household goods. It accounts for community expectations ...

Industry-made retirement models are self-serving: SCA

ELIZA BAVIN  |  MONDAY, 2 MAR 2020
Super Consumers Australia (SCA) has taken a stance against industry-created retirement models, saying Australians deserve realistic retirement income standards. In its submission to the Retirement Income Review (RIR) SCA said existing models pushed ...

Australians retire too wealthy: Grattan

ELIZABETH MCARTHUR  |  TUESDAY, 4 JUN 2019
... said. The GRIP modelling looked at people's incomes in the five years before retirement and concluded that the ASFA standard seems to be based off much more generous income numbers for the population. Daley said: "The fundamental problem with the ...

We must do better: ASFA

JAMIE WILLIAMSON  |  WEDNESDAY, 14 NOV 2018
... industry as well as the present generation and generations to come to do a better job each and every year." While the ASFA standard is widely accepted as the benchmark for living expenses in retirement, it is one that is still a long way off for most ...

Lower returns but higher balances for SMSFs

JAMIE WILLIAMSON  |  MONDAY, 18 SEP 2017
... predict two-thirds of SMSF trustees can remain confident (with 80% certainty) that they are well placed to achieve the ASFA standard of comfort. However, the median desired spending level in retirement for a 65-year old SMSF couple is $78,800, up from ...

Pre-retirees risk significant shortfalls: MLC

EMMA RAPAPORT  |  TUESDAY, 29 AUG 2017
... according to research from MLC. More than half of those aged between 50 and 70 are on course to fall beneath the ASFA standard ($545,000 for a single, $640,000 for a couple who own their own home), while about half (43%) admitted to having a superannuation ...

Less than 15% meet ASFA standard of retirement savings

LAURA MILLAN  |  MONDAY, 31 MAR 2014
Less than 15% of Australians aged 40 to 64 meet the standard set by Association of Superannuation Funds of Australia (ASFA) for retirement savings, according to a survey by Towers Watson and the University of Melbourne. The research has determined that ...
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