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Showing 1 - 10 of 10 results for "YFYS"

Industry mixed on YFYS

ANNABELLE DICKSON  |  FRIDAY, 18 JUN 2021
Industry bodies have varied responses to the passing of the Your Future, Your Super reforms with some saying it will lead to worse outcomes for members. The Your Future, Your Super reforms were passed in the Senate yesterday with an amendment that will ...

Concern for consumers ahead of YFYS

ELIZABETH MCARTHUR  |  MONDAY, 7 JUN 2021
After the Your Future, Your Super reforms were passed in the House of Representatives lawyers have expressed concern consumers may not understand the impact of the changes. Law firm Slater and Gordon warned that Australians could end up with less insurance ...

YFYS on its way to Senate

KANIKA SOOD  |  FRIDAY, 4 JUN 2021
... Representatives, have nine seats in the Senate. The one independent senator, Rex Patrick, has already tabled amendments to YFYS which side with Labor's views. This means, in a best-case scenario Labor has to win at least two other votes amongst Centre ...

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. ...

YFYS incentive to reduce fees: Hume

ANNABELLE DICKSON  |  THURSDAY, 13 MAY 2021
The inclusion of superannuation administration fees in the Your Future, Your Super performance benchmark will not punish funds that reduced fees in recent years, according to minister for superannuation Jane Hume. Speaking at the Financial Services ...

Labor won't support YFYS Bill in current form

KANIKA SOOD  |  FRIDAY, 30 APR 2021
... in its current form for reasons including its rushed start date. Senate Economics Legislation released its final report on YFYS reforms yesterday, a week later than initially planned. In the meantime, the Liberal government has released draft regulation ...

Draft regulation on YFYS released

KANIKA SOOD  |  WEDNESDAY, 28 APR 2021
The government has conceded to industry demands on administration fees and unlisted assets' treatment in the new APRA performance tests, as it finally releases draft regulation for the Your Future, Your Super reforms. It has agreed to include administration ...

Senate report on YFYS reforms delayed

KANIKA SOOD  |  THURSDAY, 22 APR 2021
... for "an urgent update" on the release of the draft regulations for the bill. "Given that details of the full impact of the YFYS Bill are not yet clear we are concerned there is now insufficient time for considered debate of the YFYS Bill," the three ...

YFYS net must be cast wider: Cbus

ANNABELLE DICKSON  |  FRIDAY, 9 APR 2021
The $59 billion industry fund is calling on the government to include all superannuation products in the proposed performance benchmarks from the same date and to not commence the rest of the measures until all underperforming funds have been removed ...

QSuper pokes holes in YFYS legislation

KANIKA SOOD  |  FRIDAY, 26 MAR 2021
... costs at superannuation funds and delays in decision-making, alongside less talent for their boards. In its submission to the YFYS consultation, the industry fund called attention to the Best Interest Financial Duty's reversal of the burden of proof ...
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