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Superannuation

MySuper outside government scope

BEN COLLINS  |  FRIDAY, 3 AUG 2012
In implementing MySuper, the government is taking on a new role outside its current remit, said Maged Girgis, partner, Minter Ellison Lawyers.

Super asset changes deliver positive return

MELANIE TIMBRELL  |  FRIDAY, 3 AUG 2012
The SelectingSuper workplace default option index rose slightly during June 2012, tipping super funds into positive territory for 2011-12 with an annual return of +0.5%.

Vision for the future

LINDA HAUSKEN  |  THURSDAY, 2 AUG 2012
Financial services minister Bill Shorten said that by 2017, the industry will be unrecognisable, predicting the age of commission-free super and greater convergence of retail and industry super funds.

Retiree living costs match CPI

ALEX DUNNIN  |  THURSDAY, 2 AUG 2012
The Pension Beneficiary Living Costs Index rose 0.5% for the June quarter 2012 and 1% across the last 12 months, matching regular inflation.

No role for FWA in choosing default funds: CSSA

MELANIE TIMBRELL  |  WEDNESDAY, 1 AUG 2012
The Corporate Super Specialist Alliance has endorsed option 4 of the Productivity Commission's default super fund inquiry, namely that an independent expert panel and not Fair Work Australia should make default fund listing decisions.

AusSuper introduces new member risk framework

MELANIE TIMBRELL  |  WEDNESDAY, 1 AUG 2012
AustralianSuper has changed the way risk is described in investment options in an effort to help members make clearer choices based on their individual time frames.

MySuper to commoditise super

ALEX DUNNIN  |  WEDNESDAY, 1 AUG 2012
MySuper will commoditise the superannuation industry, said Rice Warner Actuaries in their latest fee report that was commissioned by the Financial Services Council.

Heritage Bank launches online RSA

ALEX DUNNIN  |  WEDNESDAY, 1 AUG 2012
Heritage Bank has launched an online-only Retirement Savings Account (RSA), known as Secure Super Account.

CUA launches low cost super funds

ALEX DUNNIN  |  WEDNESDAY, 1 AUG 2012
Credit Union Australia (CUA) has finally entered the superannuation fray and launched two low cost products in partnership with MAP Funds Management.

Default fund listings unnecessary: FSC

MELANIE TIMBRELL  |  TUESDAY, 31 JUL 2012
The FSC has told a Productivity Commission hearing that the continuation of default fund listings in awards is not necessary following the introduction of MySuper.