| | FRIDAY, 19 OCT 2018 12:26PMThe interim head of pensions and investments at an international pension fund was convicted of fraud after he abused his position and stole close to $2 million in retirement savings.|
|A $1.5 billion industry superannuation fund is reducing select insurance premiums after renegotiating its group insurance mandate. It also slashed the administration fee on its pension account.|
|Nearly all large superannuation funds are fulfilling reporting obligations to a "high standard," the ATO's latest diagnostic reports show.|
|Mercer has renewed its administration mandate with a $9 billion industry superannuation fund; and it has become manager for the $250 million Anglican National Super plan.|
|In the last decade, women have narrowed the superannuation gender gap by about 13 percentage points, but they still have only 72% of what men have in their nest eggs.|
|The total amount of lost and unclaimed superannuation stands at $17.5 billion, new data from the Australian Taxation Office (ATO) shows.|
|Australia's $2.7 trillion superannuation system has a lot to gain from adopting distributed ledger technologies (DLT), but the industry will want more clarity around blockchain applications before it jumps in.|
|Australians are the second-most optimistic about retirement, according to new SSGA research that compared retirement satisfaction levels across eight countries.|
|The $47 billion industry fund has taken a direct stake in a UK ports company in which First State Super also holds a share.|
|Frontier Advisors will continue to provide asset consulting services to a $9 billion superannuation fund for a further three years.|
At least 50 staff members at TAL have been made redundant as part of a wider move to scale back its direct life insurance business.
The Labor party will launch a senate inquiry into whether regulation around payday lenders such as Afterpay is adequately protecting low and middle income, and financially stressed Australians.
ASIC is set to review banking and financial literacy programs in Australian primary schools, including Commonwealth Bank's recently criticised Dollarmites program.
Self-managed super funds continue to have the lowest fees across all superannuation vehicles, charging an average total expense ratio of 0.82%, latest Rainmaker Research shows.
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