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Superannuation

Budget presents huge opportunity for wealth industry

MARK SMITH  |  WEDNESDAY, 14 MAY 2014
The two year increase in the Age Pension is likely to create a huge opportunity for the financial services industry as product and service providers devise ways to help fund people those additional years.

Delay in SG rise 'disappointing', says industry

JAMES FERNYHOUGH  |  WEDNESDAY, 14 MAY 2014
The government will delay the staggered increase of the superannuation guarantee (SG) to 12% for an extra year, it has revealed in the 2014/15 budget.

Budget a 'missed opportunity': ISA

JAMES FERNYHOUGH  |  TUESDAY, 13 MAY 2014
Industry Super Australia (ISA) Director of Public Affairs Matt Linden said the budget was a "missed opportunity to find small innovative solutions," saying the changes could result in a 25% decrease on retirement income for many Australians.

Businesses ignorant of SuperStream requirements

JAMES FERNYHOUGH  |  TUESDAY, 13 MAY 2014
Almost 50% of businesses have limited or no knowledge of the SuperStream requirements, a survey conducted by Attache Software has found.

Industry funds must learn from banks: Equip

JAMES FERNYHOUGH  |  MONDAY, 12 MAY 2014
Industry funds must learn from banks on areas such as customer relations, branding and diversifying their offerings beyond super if they are to access retail members and build their member bases, according to Geoff Brooks, executive officer of strategic ...

Cbus answers CFMEU leak allegations

JAMES FERNYHOUGH  |  MONDAY, 12 MAY 2014
Industry fund Cbus has said the disclosure of member information to 'sponsoring organisations' is allowable under certain circumstances, following reports that it improperly supplied members' contact details to the Construction, Forestry, Mining and ...

Prime Super will not appoint HIP directors to board

LAURA MILLAN  |  FRIDAY, 9 MAY 2014
The Health Industry Plan (HIP) Super expenses scandal will not affect the merger with Prime Super, but HIP directors will not be a part of the new board.

SuperStream savings 'nowhere near' estimates

JAMES FERNYHOUGH  |  FRIDAY, 9 MAY 2014
SuperStream is not delivering the member value for money that was its intended result in the Cooper Review, according to VicSuper head of employer relations Dean Pearce.

Equip to launch pension version of MySuper

JAMES FERNYHOUGH  |  FRIDAY, 9 MAY 2014
Superannuation fund Equip will launch a retirement phase version of MySuper, called 'Equip MyPension', on 1 July this year, chief executive Danielle Press has revealed.

Super needs a radical new solution to longevity: Keating

ALEX DUNNIN  |  FRIDAY, 9 MAY 2014
Former Prime Minister and superannuation system architect Paul Keating says the government needs to create 'superannuation mark two' to enable superannuation to provide enough money for retirees who are increasingly likely to become centenarians.