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Showing 1 - 10 of 15 results for "SMC"

SMC says 'reckless' plan could cost taxpayers $1tn

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
Super Members Council (SMC) has slammed the Coalition's plan for young Australians to use their super for a house deposit, saying new modelling shows it could cost taxpayers a cumulative $1 trillion. SMC said even a policy which capped super withdrawals ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... switching business models." The Australian Institute of Superannuation Trustees (AIST), which is now Super Members Council (SMC), has advocated for the banning of advice firms using third parties to solicit business via cold calling, and for current ...

Super for housing 'economically reckless': SMC

ANDREW MCKEAN  |  WEDNESDAY, 1 MAY 2024
The Super Members Council (SMC) has warned that encouraging young Australians to use their superannuation for a house deposit could dramatically drive-up house prices and deplete their retirement savings. "We all desperately want more Australians to ...

Coalition's super for housing scheme slammed

ELIZA BAVIN  |  TUESDAY, 12 MAR 2024
The Super Members Council (SMC) has slammed a proposal by Shadow Minister for Housing Michael Sukkar to allow Australians to access their superannuation to buy their first home. The Shadow Minister said the Coalition was determined to help younger Australians ...

Long-term cost of super early release to be $85bn: SMC

CHLOE WALKER  |  FRIDAY, 1 MAR 2024
... billion bill due to the COVID-era Early Release of Super scheme, according to a new analysis by the Super Members Council (SMC). Using the Superannuation, Pensions, and other Retirement OUTcomes (SPROUT) model, the SMC estimates the cumulative long-term ...

Super funds convene with assistant treasurer

ANDREW MCKEAN  |  MONDAY, 26 FEB 2024
Representatives from the Super Members Council (SMC) met with assistant treasurer Stephen Jones to explore strategies for bolstering customer service. Industry super funds, in collaboration with the SMC, initiated a roundtable discussion last week with ...

Aussies do not underspend in retirement, say super funds

JAMIE WILLIAMSON  |  WEDNESDAY, 21 FEB 2024
... mandated use of annuities by trustees. In formulating its submission on Superannuation in retirement, the Super Members Council (SMC) - which comprises AustralianSuper, Cbus, HESTA, Hostplus, Aware Super, Australian Retirement Trust, UniSuper and Rest ...

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... to boost the retirement savings of working mothers by $38,000 via two critical policy changes. In the first instance, the SMC calculates that working mums can be $12,500 to $14,500 better off at retirement if the government pays super on parental leave. ...

Super viewed as lifeboat by Aussies: Survey

CHLOE WALKER  |  MONDAY, 15 JAN 2024
... because of their superannuation savings. An Essential Research survey of 1151 people, commissioned by the Super Members Council (SMC) in November, found that almost two-thirds of Australians believe super makes them feel more confident about their financial ...

Payday super protects most vulnerable: SMC

CHLOE WALKER  |  MONDAY, 4 DEC 2023
New modelling by the Super Members Council (SMC) reveals payday super could add up to $36,000 to the retirement balance of workers in the lowest 20% of wage earners. A recent SMC analysis of an Australian Taxation Office sample file has found that on ...
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