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Superannuation

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.

AustSuper backs away from SYD takeover

JAMES FERNYHOUGH  |  MONDAY, 16 SEP 2013
Sydney Airport has become too expensive for pension funds, with a consortium of international funds led by AustralianSuper reportedly backing away from a takeover bid.

SMSFs show appetite for direct overseas shares

MARK SMITH  |  MONDAY, 16 SEP 2013
SMSFs investors are three times more likely to research overseas stocks than non-SMSF investors, according to research conducted by investment research platform Skaffold into its member base.

Link grows empire with Syncsoft swallow-up

JAMES FERNYHOUGH  |  MONDAY, 16 SEP 2013
Link Group has expanded its superannuation administration empire with the acquisition of software provider Syncsoft.

Bracks back on Cbus board

LAURA MILLAN  |  FRIDAY, 13 SEP 2013
Steve Bracks has been reappointed as chair of the Cbus board of directors, effective as of today.

ASFA calls for delay to MySuper reporting deadline

JAMES FERNYHOUGH  |  FRIDAY, 13 SEP 2013
The superannuation industry is calling on the prudential regulator to delay the 28 October 2013 deadline for reporting form SRS 702.0, the final version of which was only released last week.

Australian Ethical pays out $300k in redundancies

JAMES FERNYHOUGH  |  THURSDAY, 12 SEP 2013
ASX-listed retail super fund Australian Ethical will make a number of employees redundant following a "substantial reduction" of its Canberra office.