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Showing 1 - 10 of 16 results for "Retirement Income Covenant"

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
... transitional period is due for a review in 2022. Hume also flagged with confidence that the long-awaited Retirement Income Covenant will be in force from 1 July 2022. "It is finally going to happen. The Retirement Income Covenant will be included in ...

QSuper unveils retirement income product

KARREN VERGARA  |  WEDNESDAY, 10 MAR 2021
... growing demand for these types of products that address retirees' long-term financial needs. The Retirement Income Covenant was introduced in the 2018-19 Budget but has been delayed significantly. It is due to take effect in mid-2022 as championed ...

Retirement income framework on track: Frydenberg

KARREN VERGARA  |  FRIDAY, 26 FEB 2021
The Federal Treasurer is confident that the Retirement Income Covenant will go ahead in mid-2022 despite several issues that need to be ironed out. In addressing the 2021 Council of the Ageing (COTA) National Policy Forum on Retirement Income this morning ...

SMSFs primed for best financial interests duty

KARREN VERGARA  |  TUESDAY, 16 FEB 2021
... retirement savings." Hume flagged that the government will progress important reforms, such as the Retirement Income Covenant, that were put on the backburner when COVID-19 hit. It will work with the SMFSA soon to improve the retirement needs and strategies ...

MySuper funds face new test, member bans

KANIKA SOOD  |  TUESDAY, 6 OCT 2020
... tabled to government by its independent panel on July 24 but still hasn't been published wider. The retirement income covenant, announced in the federal budget two years ago, was delayed from a 1 July 2020 start date to 1 July 2022. "[This is] to ...

Retirement income covenant delayed

HARRISON WORLEY  |  MONDAY, 25 MAY 2020
The government is delaying the introduction of the retirement income covenant, due to the impact of COVID-19. Originally slated for introduction on July 1, the retirement income covenant has been delayed, with the government not yet in a position to ...

Government to revisit retirement incomes

KARREN VERGARA  |  MONDAY, 27 MAY 2019
... retirement income strategies. The Government should reassess the benefits, costs and detailed design of the Retirement Income Covenant - including the roles of information, guidance and financial advice - and only introduce the Covenant if design imperfections ...

Actuaries Institute welcomes retirement income reforms

JAMIE WILLIAMSON  |  TUESDAY, 19 FEB 2019
... Strategy Group convenor Andrew Boal said the institute welcomes plans to prioritise the development of a retirement income covenant, and that all superannuation funds should develop a retirement income strategy for members. In doing so, the institute ...

Government needs to rethink CIPRs

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
The government should abandon the Retirement Income Covenant proposed last year, if it can't sufficiently remediate its flaws by the deadline, the Productivity Commission says in the final report. Treasury has already extended the deadline on Comprehensive ...

Retirement income covenant consultation continues

KARREN VERGARA  |  TUESDAY, 11 DEC 2018
Treasury is seeking consultation on disclosure documents and calculation methods for its proposed retirement income covenant. Phase two of the Retirement Income Framework is aiming to develop standardised and simplified metrics in product disclosure ...
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