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UniSuper restores online services, app

JAMIE WILLIAMSON  |  MONDAY, 13 MAY 2024
... failures "are an enforcement priority." UniSuper has maintained that the outage was not related to a breach and that at no time was member data accessed or at risk of being accessed. The super fund said the minimal data lost was "predominately related ...

Rest calls for removal of minimum work hours for super

ELIZA BAVIN  |  MONDAY, 13 MAY 2024
... this change is likely to have an impact on a number of employers, particularly small and medium businesses, who employ part-time or casual workers. "This change is crucial for the future of young Australians and an opportunity for the superannuation ...

Federal Court rejects two CBA class actions

KARREN VERGARA  |  MONDAY, 13 MAY 2024
... aware of suspected terrorism financing, money laundering and/or structuring on CBA accounts in 38 instances, AUSTRAC at the time accused CBA did not appropriately monitor its customers to mitigate and manage money laundering and terrorism financing risk ...

ClearView closes ClearChoice Super Rollover, launches trauma options

KARREN VERGARA  |  MONDAY, 13 MAY 2024
... issues with TPD such as uncertainty due to the subjectivity of assessing total and permanent disability, and the length of time it takes to assess claims," she said. Separately, ClearView's ClearChoice Super Rollover ceases taking new monies as of today. ...

Rahmani takes up post at Magellan

KARREN VERGARA  |  MONDAY, 13 MAY 2024
... Asset Management as of today. As announced in February, Rahmani will step into the role of chief executive in 12 months' time. As managing director, Rahmani oversees all aspects of operations, including direct oversight of the investment, distribution ...

Inflation spooks retirees more than healthcare costs

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
... challenges facing retirees today are further evidence of the retirement savings crisis. For younger generations with longer time horizons, now is the time to prioritise saving for a brighter future," she said. A survey from Equip Super yielded similar ...

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
ASIC commissioner Simone Constant says the regulator's new report on exorbitant advice fee deductions is not a criticism of advisers, rather of trustees failing basic obligations, with more still needing to be done by the reviewed funds some 12 ...

AFCA finds more Dixon Advisory victims

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
... costs," she said. The CSLR opened its doors on April 2, estimating that it was ready to compensate about 2000 claimants at the time. The financial advice industry will be forced to pay $18.5 million to fund the CSLR in the first year of operation. Abood ...

The unintended consequences of the four-day work week

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
... Andrew Barnes and Charlotte Lockhart as 4 Day Week Global, pushes for employees receiving 100% or full pay for 80% of their time and simultaneously maintaining 100% of their output. Zurich Financial Services non-executive director Elaine Collins said ...

Senior Cbus investment manager exits

ELIZABETH FRY  |  FRIDAY, 10 MAY 2024
... overall investment capability and continues the strategy to build our level of expertise in-house," the asset owner said at the time. Interestingly, Ferguson's departure comes as Cbus advertises for a new head of portfolio construction. According ...
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