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Showing 1 - 10 of 87 results for "Retirement income covenant"

Too much being asked of super trustees: Levy

ELIZA BAVIN  |  FRIDAY, 30 AUG 2024
... includes housing." Levy said regulators have looked at what trustees are doing to try and comply with the retirement income covenant and those regulators are already concerned that it is not enough. "I worry about adding to that burden. These are trusts ...

APRA reorganises as it sets sights on superannuation

ELIZA BAVIN  |  WEDNESDAY, 28 AUG 2024
... will include working with ASIC to ensure superannuation trustees meet their requirements under the Retirement Income Covenant. In addition, APRA chair John Lonsdale said the regulator would be taking a close look at the relationship between banks and ...

CSC launches series of retirement options

ANDREW MCKEAN  |  FRIDAY, 23 AUG 2024
... might look like, instead making it available for members to use in line with the requirements of the Retirement Income Covenant. This entailed the introduction of trustee default retirement options, that align with member profiles, seeking to assist ...

'Our patience is running thin': ASIC

ELIZA BAVIN  |  THURSDAY, 15 AUG 2024
... delivering strong returns and balances is only part of the job. "Two years on from the implementation of the Retirement Income Covenant, we are still having the same conversations. Equally, we're still seeing a lack of urgency in improving member services ...

APRA heightens expectations around trustees' spending

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... in trustees' strategic and business planning, financial resource management, implementation of the retirement income covenant and fund transfers." The regulator wants to ensure that all decisions, particularly around expenditure, are made with members' ...

Retirement Income Covenant still weak: APRA, ASIC

KARREN VERGARA  |  TUESDAY, 2 JUL 2024
... robust retirement income strategies and failed to integrate this mandate into their business plans. The Retirement Income Covenant, which was mandated on 1 July 2022, requires trustees to design a strategy for retirees that maximise expected retirement ...

Deloitte eyes more mergers and product innovation

ANDREW MCKEAN  |  FRIDAY, 22 MAR 2024
... savings with not drawing down too slowly and living more frugally than necessary, the report said. The Retirement Income Covenant (RIC) aims to improve outcomes for members, but funds lack complete information on their members. As such, trustees must ...

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 ...
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