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Superannuation

ASIC's SMSF report being misread

ALEX DUNNIN  |  THURSDAY, 19 SEP 2013
A report commissioned by the Australian Securities and Investment Commission (ASIC) into the cost of self-managed superannuation funds (SMSF) has been misinterpreted.

NAB Asset Servicing wins Prime Super contract

ALICE URIBE  |  WEDNESDAY, 18 SEP 2013
National Australia Bank's (NAB) Asset Servicing business has hung onto its contract to provide custodial services to Prime Super.

ANZ, BHP, Tidswell get MySuper authorisation

ALEX DUNNIN  |  WEDNESDAY, 18 SEP 2013
ANZ, BHP and Tidswell Financial Services have gained MySuper authorisation, taking the number of funds licensed to accept default SG MySuper contributions to 73.

John Hewson calls for overhaul of superannuation system

MARK SMITH  |  TUESDAY, 17 SEP 2013
Former Liberal Party leader and chairman of Shartru Wealth Management John Hewson wants the new government to conduct an overhaul of the superannuation system to loosen the Labor Party's grip on the sector.

Super likely to fall under Treasury

LAURA MILLAN  |  TUESDAY, 17 SEP 2013
Superannuation and financial services will likely fall under the Treasury portfolio, a decision that industry bodies have welcomed.

DB schemes decline post-GFC

JAMES FERNYHOUGH  |  TUESDAY, 17 SEP 2013
Uncertainty in the wake of the global financial crisis has accelerated the move away from defined benefit (DB) retirement schemes, and towards defined contribution (DC) schemes, according the 2013 Create survey.

TOWER announces $70 million special dividend

JAMES FERNYHOUGH  |  TUESDAY, 17 SEP 2013
ASX-listed New Zealand insurer TOWER plans to return an initial $70 million of capital to shareholders following the sale of its life insurance business in May this year.

Industry agrees: SMSFs are not for everyone

LAURA MILLAN  |  TUESDAY, 17 SEP 2013
Industry bodies have welcomed the Australian Securities and Investments Commission (ASIC) consultation paper asking for better regulation for establishing and advising self-managed superannuation funds (SMSF).

Hockey to head Treasury and Cormann Finance

LAURA MILLAN  |  MONDAY, 16 SEP 2013
Joe Hockey has been appointed Treasurer and Senator Mathias Cormann will be Minister of Finance under the new government.

Super members want 12% guaranteed super increase

JAMES FERNYHOUGH  |  MONDAY, 16 SEP 2013
An overwhelming majority of super members support an increase in compulsory contributions to 12%, according to a survey carried out by the Financial Services Council (FSC) and ING DIRECT.