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Showing 1 - 10 of 21 results for "MySuper accounts"

AMP super class action finally hits court

JAMIE WILLIAMSON | TUESDAY, 27 MAY 2025

... term deposits." The central claims relate to administration fees charged on Flexible Lifetime Super accounts, MySuper accounts, and overcharging investment fees on cash and term deposits. "No other retail fund was charging investment fees on cash or ...

Age-based super strategies could add thousands to retirement savings

ANDREW MCKEAN | THURSDAY, 22 MAY 2025

... industry's MySuper options, using Chant West data, over the five years to March 2025. It calculated that 14.5 million MySuper accounts would've achieved an average retirement savings uplift of 6.6% over the period if their investments had been aligned ...

How young Australians are missing out on better super returns

ANDREW MCKEAN | TUESDAY, 12 DEC 2023

... longer time horizons of young investors. Notably, Australians under the age of 40 account for over 10 million MySuper accounts, indicating an investment timeframe of 25 to 40 years before their superannuation becomes accessible. "The problem of being ...

Key advice reforms tabled

KARREN VERGARA | THURSDAY, 10 DEC 2020

... three documents and greater flexibility and more time for clients to renew," he said. Although ongoing fees for MySuper accounts will be banned, he said, other advice fees will still be permitted. "This is an important outcome." Financial Planning Association ...

MySuper funds face new test, member bans

KANIKA SOOD | TUESDAY, 6 OCT 2020

... implement the reforms to superannuation. Three other measures announced include: an ATO-run portal for selecting MySuper accounts, stapling accounts and members, and a greater obligation of transparency and accountability on members. ATO will develop ...

Perpetual successor fund transfer to go ahead

ELIZABETH MCARTHUR | WEDNESDAY, 30 SEP 2020

After months of delay due to COVID-19, Perpetual MySuper accounts will be transferred to CareSuper on or around 30 October 2020. "We wrote to Perpetual MySuper members in March 2020 to advise of the transfer to CareSuper scheduled for 1 May 2020. Due ...

Lack of independence must be made clear: ASIC

ELIZA BAVIN | TUESDAY, 10 MAR 2020

... renewed annually. The recommendation states that the deduction of any advice fee from super accounts, excluding MySuper accounts, should be prohibited unless the requirements about annual renewal, prior written identification of service and express written ...

Fight for MySuper advice fees kicks off

ELIZABETH MCARTHUR | TUESDAY, 3 MAR 2020

... Draft legislation currently open for consultation would stop Australians paying for financial advice from their MySuper accounts. The Financial Planning Association of Australia is among those who oppose the move. The FPA is arguing that it will create ...

More MySuper accounts close than open: APRA

HARRISON WORLEY | TUESDAY, 17 DEC 2019

Latest data from APRA shows more MySuper accounts closed in the last financial year than were opened. According to APRA's annual MySuper statistics, about 2,151,403 new MySuper accounts were created in the 2018/19 financial year. However, about 2,189,859 ...

Wealth income halved, Hartzer skips $1.6m bonus

HARRISON WORLEY | MONDAY, 4 NOV 2019

... changes. Hartzer said the changes in Westpac's wealth arm - including exiting financial planning and migrating MySuper accounts - hurt revenue in the short term but would support customers and help the bank "build a more sustainable business." The ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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