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Superannuation

FSC report warns of default super 'turmoil'

JAMES FERNYHOUGH  |  THURSDAY, 24 JUL 2014
The Fair Work Commission (FWC) review of default superannuation will cost $400 million and throw the superannuation of 2.25 million Australians into "turmoil", the Financial Services Council (FSC) has claimed.

AustralianSuper awards residential property mandates

JAMES FERNYHOUGH  |  THURSDAY, 24 JUL 2014
AustralianSuper plans to increase its holdings in direct Australian residential property in a new deal with property managers QIC and ISPT.

Banks will struggle to profit from super: Sunsuper CEO

JAMES FERNYHOUGH  |  WEDNESDAY, 23 JUL 2014
Banks are going to find it increasingly difficult to make money out of superannuation as the downward pressure on fees continues, according to Sunsuper chief executive Scott Hartley.

Most super boards have no independent trustees

JAMES FERNYHOUGH  |  WEDNESDAY, 23 JUL 2014
Well over half of all superannuation funds still do not have any independent trustee directors, and most of those have no intention of appointing any, a report by Mercer has found.

Govt begins long-awaited retirement income review

JAMES FERNYHOUGH  |  TUESDAY, 22 JUL 2014
The government has launched its much-anticipated review of Australia's underdeveloped retirement income industry with the release of a comprehensive discussion paper.

Senate saves the LISC

JAMES FERNYHOUGH  |  MONDAY, 21 JUL 2014
The low income superannuation contribution (LISC) scheme has been saved after the Senate blocked the repeal of measures related to the mining tax.

Gen Ys most keen on intra-fund advice

LAURA MILLAN  |  FRIDAY, 18 JUL 2014
Financial advice might be the key to engaging young super fund members, with a new survey revealing that half of Gen Ys who have not used their fund's intra-fund advice services before, intend to do so in the future.

Are super funds the new shadow banks?

JAMES FERNYHOUGH  |  FRIDAY, 18 JUL 2014
Superannuation funds are increasingly behaving like shadow banks and should be regulated as such, an economist and pension expert from the UK has warned.

Telstra offers incentives to switch DB members to accumulation

MARK SMITH  |  THURSDAY, 17 JUL 2014
Telstra has asked for volunteers from its approximately 6,100 employees who are on defined benefit pensions to switch to Telstra Super's accumulation division.

UK annuities policy dubbed 'political schizophrenia'

JAMES FERNYHOUGH  |  THURSDAY, 17 JUL 2014
The chief executive of a British pension fund industry body has dubbed the UK government's decision to scrap compulsory annuitisation as 'political schizophrenia'.