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Superannuation

Super framework, SMSFs conducive to financial abuse: Inquiry

KARREN VERGARA  |  FRIDAY, 6 DEC 2024
Lax superannuation laws make it too easy for perpetrators of domestic violence to access victims' retirement savings, while the current framework for self-managed super funds (SMSFs) enables financial abuse to flourish, a parliamentary inquiry found.

MLC trustees to pay $65m in MySuper class action settlement

JAMIE WILLIAMSON  |  FRIDAY, 6 DEC 2024
MLC will pay close to $65 million to settle a class action that alleged it delayed transferring more than 300,000 members to the cheaper MySuper option.

Super funds should focus on 'simple' advice: Jones

ELIZA BAVIN  |  FRIDAY, 6 DEC 2024
Assistant Treasurer Stephen Jones has said the purpose of DBFO Tranche 2 is to allow super funds to answer "basic questions" for their members.

GESB renews administration mandate

JAMIE WILLIAMSON  |  THURSDAY, 5 DEC 2024
The fund for Western Australian public sector workers has renewed its mandate with MUFG Retirement Solutions.

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
An independent review by Deloitte has found little evidence to suggest Cbus' pricey relationship with the CFMEU is in the best financial interests of members. It also found the fund's processes for determining the propriety of board directors are lacking.

TelstraSuper and Equip Super merger to go ahead

ELIZA BAVIN  |  TUESDAY, 3 DEC 2024
The boards of TelstraSuper and Equip Super have signed a binding Heads of Agreement to proceed with a "merger of equals".

WA super law reforms boost GESB

JAMIE WILLIAMSON  |  MONDAY, 2 DEC 2024
Laws that will enable GESB members to keep growing their super with the fund after they leave the public service have been passed.

$3m super tax faces axe, pushed to 2025

MATTHEW WAI  |  MONDAY, 2 DEC 2024
The failure of the government to pass its proposed $3 million superannuation tax last week may well see the measure abandoned.

Objective of super enshrined in law

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2024
After a decade in the making, an objective of superannuation has been legislated, with the bill passed in parliament yesterday.

Australian Retirement Trust primed for growth: Morningstar

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2024
Morningstar has heaped praise on Australian Retirement Trust (ART), saying it is home to a "high calibre investment leadership team playing to their strengths," but warned of key person risks.