Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 546 results for "MySuper product"

NAB MySuper class action settlement approved

JAMIE WILLIAMSON  |  WEDNESDAY, 14 MAY 2025
The Federal Court approved the $65 million settlement that was reached in December. At the end of 2024, MLC Super Fund, NULIS Nominees and MLC Nominees agreed to settle the class action that was brought against it for deferring the transition of members ...

Webull launches SMSF account offering

ANDREW MCKEAN  |  MONDAY, 14 APR 2025
Webull Securities Australia has launched a self-managed superannuation fund (SMSF) account offering, targeting cost-conscious younger investors. Webull's SMSF offering has no monthly fees and features commission-free trading on ASX and US-listed exchange-traded ...

MLC trustees to pay $65m in MySuper class action settlement

JAMIE WILLIAMSON  |  FRIDAY, 6 DEC 2024
MLC will pay close to $65 million to settle a class action that alleged it delayed transferring more than 300,000 members to cheaper MySuper options. Maurice Blackburn has today advised it reached a settlement with MLC Super Fund, NULIS Nominees and ...

Choice products continue to overshadow MySuper: APRA

MATTHEW WAI  |  THURSDAY, 3 OCT 2024
The June quarter saw the superannuation industry amassing $2.37 trillion across 986 superannuation products and 22.8 million accounts, according to APRA's latest data. Of which, $1.2 trillion sits across choice products. Of the 812 choice products ...

APRA calls out high-cost super platforms

ELIZA BAVIN  |  TUESDAY, 24 SEP 2024
The Australian Prudential Regulation Authority (APRA) has put superannuation platform products under the microscope, saying their higher fees and costs are eroding members' retirement savings. Platform TDPs charged higher administration fees and costs ...

MLC Super to slash admin fees for members

JAMIE WILLIAMSON  |  TUESDAY, 17 SEP 2024
... to drop from 0.91% to 0.81%. According to Rainmaker Information, the average total investment fees for a retail MySuper product was 0.60% as at June 2023.

All MySuper products pass super performance test

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
All MySuper products passed this year's superannuation performance test with flying colours for the first time, while some trustee directed products (TDPs) need to lift their game, according to APRA. APRA assessed the performance of 57 MySuper products ...

Super performance test needs personal rate of return: Adviser

KARREN VERGARA  |  THURSDAY, 15 AUG 2024
APRA's annual superannuation performance test fails to consider results where it truly matters - at the member level - and ends up missing the mark on ensuring positive member outcomes, according to a financial advice expert advocating for better ...

Insignia Financial flags more remediation ahead

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... $23 million has been set aside to remediate super fund clients whose contributions weren't directed into a MySuper product when they should have been; this conduct has also led to Insignia Financial entering a court enforceable undertaking with APRA ...

OnePath Custodians fined $11m for MySuper failures

JAMIE WILLIAMSON  |  MONDAY, 22 JUL 2024
... identify more superannuation members that were impacted by its failure to direct default contributions into a MySuper product. It has also been issued a $10.7 million infringement notice. According to APRA, the entity has committed 684 offences of "failure ...
PREVIOUS
NEXT