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Superannuation

Retiree 4pct drawdown limits too high

ALEX DUNNIN  |  TUESDAY, 11 MAR 2014
New research released by the Financial Services Institute of Australia (Finsia) reveals that the standard 4% retirement income drawdown may be too high and inadvertently result in retirement funds running out too quickly.

Media Super to launch MDI option

JAMES FERNYHOUGH  |  TUESDAY, 11 MAR 2014
Media Super has become the latest industry superannuation fund to announce it will introduce a member direct investment (MDI) option.

SPAA calls for reduction in SMSF levy

JAMES FERNYHOUGH  |  MONDAY, 10 MAR 2014
The Australian Taxation Office's annual levy on self-managed superannuation funds should be reduced in the May budget, according to the SMSF Professionals' Association of Australia.

New laws target promoters of early release schemes

JAMES FERNYHOUGH  |  FRIDAY, 7 MAR 2014
The senate has passed a bill allowing promoters of illegal early release schemes to be prosecuted.

Media Super CIO departs

JAMES FERNYHOUGH  |  THURSDAY, 6 MAR 2014
Jon Glass has left his role as chief investment officer at industry fund Media Super.

Industry overestimates amount needed for retirement

MARK SMITH  |  THURSDAY, 6 MAR 2014
The amount needed to fund the average retirement is much lower than the global pension industry currently estimates, research from Morningstar shows.

AMP Flexible Super adds new insurance and investment options

MARK SMITH  |  THURSDAY, 6 MAR 2014
AMP has changed its insurance option and added new investment choices to its flagship retirement product, AMP Flexible Super.

Ray King added to Ashington super fund court case

JAMES FERNYHOUGH  |  THURSDAY, 6 MAR 2014
Claims for damages have risen to $14 million and a new defendant has been added to a court case against four prominent super fund - Mercer partner Ray King.

MySuper authorisations reaches 117

ALEX DUNNIN  |  WEDNESDAY, 5 MAR 2014
There are now 117 authorised MySuper products with corporate funds now entering the product class.

CFS outlines post-awards plans

JAMES FERNYHOUGH  |  WEDNESDAY, 5 MAR 2014
Colonial First State (CFS) has revealed how it will approach a post-awards environment, including the use of advisers and targeting business bank customers.