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Showing 1 - 10 of 34 results for "MySuper reforms"

Colonial First State settles super class action for $56.3m

ELIZABETH MCARTHUR  |  MONDAY, 4 APR 2022
... superannuation accounts this year. However, CFS has not admitted wrongdoing in the case. "The whole point of the MySuper reforms was to make sure that millions of everyday Australians who hadn't made an active decision about their super, were not ...

MySuper reforms could have downsides

ELIZABETH MCARTHUR  |  FRIDAY, 9 OCT 2020
The government's proposed reform to MySuper products, which will involve naming and shaming underperforming MySuper products, could actually end up hurting fund performance, according to some critics. Advance Human Solutions managing director Alexandra ...

ASIC drags CFS to court over MySuper

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... a class action on the matter filed by Maurice Blackburn Lawyers, which alleges CFS' implementation of the MySuper reforms was slow and the fund breached its duties to members. ASIC is seeking declarations of breaches of s12DA of the ASIC Act and ...

Class action accuses NAB of super rip-off

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 JAN 2020
... said. "This is another regrettable case of mismanagement in the superannuation sector. The whole point of the MySuper reforms was to make sure that millions of everyday Australians who hadn't made an active decision about their super were not losing ...

Colonial First State hit with second class action in less than a week

ELIZA BAVIN  |  MONDAY, 21 OCT 2019
... class action also makes mention of the FirstChoice Super division, alleging that CFS's implementation of the MySuper reforms for members was slow.

Retail fund faces class action on MySuper

ELIZABETH MCARTHUR  |  THURSDAY, 17 OCT 2019
... names former CFS executive director Linda Elkins in particular. The action alleged CFS's implementation of the MySuper reforms for members of the FirstChoice Employer Super division was slow and the fund breached its duties to members. Maurice Blackburn ...

Super industry makes largest fee cuts since MySuper reforms

ALEX BURKE  |  WEDNESDAY, 11 OCT 2017
... the superannuation industry saw the largest fall in its total expense ratio (TER) since the introduction of the MySuper reforms - however, this varies significantly across product types and market segments. According to Rainmaker research, the TER now ...

RG 97 to lift fees 50 bps

ALEX DUNNIN  |  THURSDAY, 16 FEB 2017
... These rises will reverse much of the perceived fee drops that resulted over the past two years due to the FOFA and MySuper reforms. EY noted that in their view, the regulator is fully aware RG 97 will have these impacts but believes that fees in themselves ...

Turnbull putting industry fund governance back on the table

ALEX BURKE  |  WEDNESDAY, 14 DEC 2016
... "consider alternative models of fund allocation" and "complete the process" following the implementation of the MySuper reforms in July 2017. Emphasising the importance of competition in financial services, Turnbull also highlighted his plans to make ...

GSA an affordable alternative to DLAs: APRA

JAMES FERNYHOUGH  |  TUESDAY, 2 SEP 2014
... submission, APRA said, while a focus on superannuation fees was appropriate, it was too early to assess how well the MySuper reforms are working. "A review to assess the effectiveness of the MySuper regime would most appropriately be undertaken in a ...
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