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Showing 1 - 10 of 80 results for "Retirement Income Covenant"

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... through to us?" she said. One example is the federal government floating the possibility of making the Retirement Income Covenant applicable to SMSFs. "I don't know that it should but, clearly, it's going to be [mandatory] for APRA-regulated ...

Super funds lack data for effective retirement assistance: Study

ANDREW MCKEAN  |  MONDAY, 5 FEB 2024
... retirement income certainty preferences, hindering effective retirement assistance and compliance with Retirement Income Covenant obligations, research by Capital Preferences and Challenger reveals. The survey of 4000 Australians showed 78% feel unprepared ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... guidance in the coming months and will also review RSE licensees' self-assessments in relation to the Retirement Income Covenant and ASIC and APRA's joint report on progress of implementation from July last year. Following that, it will engage with entities ...

Market performance fails to sway retirement confidence: State Street

ANDREW MCKEAN  |  FRIDAY, 19 JAN 2024
... investment returns," it said. State Street, however, sees a silver lining in retirement income policy. The Retirement Income Covenant, with its objective to maximise, safeguard, and provide flexible access to retirement income, marks a step in the right ...

APRA flags premium volatility in superannuation group life insurance

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
APRA has lifted the lid on the key sustainability challenges of group life insurance in superannuation, notably premium volatility and data availability. At the end of 2022, APRA conducted a survey involving RSE licensees, life insurers, and reinsurers ...

Retirement phase of superannuation consultation opens

KARREN VERGARA  |  MONDAY, 4 DEC 2023
... members' retirement needs and provide products and services tailored for their retirement. Under the Retirement Income Covenant, trustees must undertake an analysis of members to assess member outcomes that could nudge them towards settings that better ...

Changing retirement landscape needs regulatory framework: Actuaries Institute

CASSANDRA BALDINI  |  MONDAY, 4 DEC 2023
... alleviating the challenges faced by superannuation trustees as they balance their responsibilities under the Retirement Income Covenant (RIC) to support members in retirement and navigate the intricate landscape of financial advice regulations. Actuary ...

NGS Super launches retirement savings strategy

CASSANDRA BALDINI  |  WEDNESDAY, 1 NOV 2023
... last, and design products that will help with that," she said. Previtera acknowledged the impact of the Retirement Income Covenant (RIC), which increased scrutiny on super funds. She said it's something NGS has been across since its inception. "For ...

'Critical shortcomings' demand urgent action from trustees: APRA

ANDREW MCKEAN  |  TUESDAY, 31 OCT 2023
... Cole noted the recent examination by APRA and ASIC on 15 trustees' progress in implementing the Retirement Income Covenant that found that while trustees are working to improve retirement strategies for fund members, the pace lacked the urgency the ...

TelstraSuper launches retirement product

JAMIE WILLIAMSON  |  THURSDAY, 26 OCT 2023
... particularly given it is the first profit-to-member guaranteed lifetime income stream to launch under the Retirement Income Covenant. "This innovative partnership has enabled TelstraSuper to offer its own CPI and market linked lifetime income streams ...
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