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Showing 1 - 10 of 35 results for "Stapling"

Industry mixed on YFYS

ANNABELLE DICKSON  |  FRIDAY, 18 JUN 2021
... Your Future, Your Super reforms were passed in the Senate yesterday with an amendment that will delay benchmarking and stapling until November. The Australian Institute of Superannuation Trustees (AIST) originally supported the objectives of the reforms ...

Your Future, Your Super passes

ELIZABETH MCARTHUR  |  THURSDAY, 17 JUN 2021
... the bill, while Labor and the Greens objected to it. However, an amendment was passed which will delay benchmarking and stapling until November. Independent Senator Rex Patrick failed to find support for his proposed amendment, which would have extended ...

More super tax concessions on table

ELIZABETH MCARTHUR  |  THURSDAY, 17 JUN 2021
... today reiterated its concerns that the new laws could trap Australians in poor performing super products through its stapling measures. According to ISA, the new legislation could cost Australian workers $230,000 in retirement savings by stapling them ...

Concern for consumers ahead of YFYS

ELIZABETH MCARTHUR  |  MONDAY, 7 JUN 2021
... Slater and Gordon warned that Australians could end up with less insurance coverage or the wrong insurance policy if the stapling reforms are passed into law. Under the reforms, workers will have one default fund that follows them from job to job. "Some ...

YFYS on its way to Senate

KANIKA SOOD  |  FRIDAY, 4 JUN 2021
... amendments lost out 69 to 59, with only the Greens MP Adam Bandt and independent MP Craig Kelly siding with it. Labor wanted stapling to exclude dangerous occupations, a deferred start date to stapling and inclusion of choice products in the performance ...

Labor to push for YFYS stapling amendments

KANIKA SOOD  |  WEDNESDAY, 19 MAY 2021
Stapling is expected to be the thorn in the Liberals' side when the Your Future, Your Super bill hits parliament next week, as shadow treasurer Stephen Jones digs his heels in on the start date and exclusions for members in hazardous occupations. ...

Stapling will benefit Hostplus: David Elia

KANIKA SOOD  |  WEDNESDAY, 19 MAY 2021
Hostplus chief executive David Elia said the government's stapling proposal would be good for the industry fund even if it may not be the right thing, at the Conference of Major Superannuation Funds this morning. Elia said 25-35% of new entrants ...

Budget no cure for hangover from last one

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 MAY 2021
... emailed by the fund with a letter informing members of the failure using a pre-written letter that is three pages long. Stapling is also a concern to AIST, with Birks saying there is a real possibility that many people will be stapled to underperforming ...

Labor won't support YFYS Bill in current form

KANIKA SOOD  |  FRIDAY, 30 APR 2021
... features of the Bill: power to the Treasurer to override superannuation trustee's investment or payment decisions, stapling to underperforming funds, inadequate insurance for some Australian worked, exclusion of some super products from the APRA ...

AMP Capital fails to stop fund merger

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 APR 2021
... also contributing $400 million in upfront liquidity for redeeming unitholders. The two funds have agreed to combine via stapling following the 18-month period to meet redemption requests. Dexus said the amount of ADPF redemptions to be met during the ...
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