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Showing 1 - 10 of 40 results for "SPS"

LGIAsuper, Energy Super change fees

ANNABELLE DICKSON  |  WEDNESDAY, 27 OCT 2021
The newly merged LGIAsuper and Energy Super have scrapped a weekly administration fee and will retain an annual fee as a result of scale benefits. Members of the superannuation fund will no longer be charged a $1 weekly administration fee and will pay ...

APRA proposes further unlisted valuation rules

KARREN VERGARA  |  WEDNESDAY, 29 SEP 2021
... taking industry feedback until 16 February 2022. The prudential regulator seeks to make several changes to Prudential Standard SPS 530 Investment Governance under the initiative. One new measure is to develop and maintain a comprehensive investment stress ...

APRA to mandate independent certifications

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
... contracts are appropriately identified and managed," the letter read. The changes will be reflected in Prudential Standard SPS 250 Insurance in Superannuation (SPS 250) and Prudential Practice Guide SPG 250 Insurance in Superannuation (SPG 250). APRA ...

Regulators urge wider DDO adoption

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
... industry on the various challenges in implementing. The regulators said a common theme of the roundtable, which also discussed SPS 515 Strategic Planning and Member Outcomes, was the use of data and data governance. Executives expressed a desire for ...

LGIAsuper picks custodian for merged fund

KANIKA SOOD  |  TUESDAY, 4 MAY 2021
LGIAsuper, which is merging with Energy Supe r and recently bought S uncorp's superannuation assets, has appointed a new custodian for the total $28 billion in assets. The merged industry fund will use NAB Asset Servicing as its custodian, siding ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
... of trustees," he told Financial Standard. Super funds are already inundated with regulatory obligations, such as APRA's SPS 515 Strategic Planning and Member Outcomes. The new law will mean additional form-filling burdens that overlap. Verdnik said ...

APRA delays insurance in super guidance

ELIZA BAVIN  |  THURSDAY, 21 JAN 2021
... released in November last year after taking on board suggestions from those in the industry. The guidance, Prudential Standard SPS 250 Insurance in Superannuation, seeks to establish requirements for an RSE licensee with respect to making insurance benefits ...

Trustees cutting corners: Rowell

KARREN VERGARA  |  FRIDAY, 2 OCT 2020
... charges, when assessing the impact on the members invested in the relevant product. Rowell said that some approach implementing SPS 515 Strategic Planning and Member Outcomes as a "tick-a-box compliance exercise" after reviewing the varied quality of ...

APRA reviews priorities in super

KARREN VERGARA  |  TUESDAY, 1 SEP 2020
Unlisted asset valuations, early release of superannuation and heatmaps are some of the key areas APRA will prioritise over the next 12-18 months. COVID-19 has forced APRA to reassess the urgency of a number of key initiatives affecting superannuation ...

Colonial First State cops licence conditions

JAMIE WILLIAMSON  |  THURSDAY, 2 JUL 2020
APRA has imposed licence conditions on Colonial First State Investments Limited to ensure super members' best interests are met, effective immediately. The regulator's decision follows an investigation into matters referred to it by the Royal ...
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