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Senator criticises lazy super system
JAMIE WILLIAMSON  |  FRIDAY, 5 JUN 2020
Senator Jane Hume has said the compulsory nature of superannuation allowed super funds to become lazy, creating inefficiencies in the system. She has also hinted the government will soon turn its attention back to the Productivity Commission's recommendation ...
MySuper goes back-to-back in the black
HARRISON WORLEY  |  THURSDAY, 4 JUN 2020
For the second consecutive month, Australia's MySuper options have generated positive returns, after a couple of negative months due to the COVID-19 pandemic.
Taper rates need revamp
KANIKA SOOD  |  THURSDAY, 4 JUN 2020
A new paper published by Actuaries Institute says current taper rates may be encouraging middle-income earners to spend their retirement savings too quickly and live on the Age Pension alone.
IFM Investors hits back at MP demanding probe
KANIKA SOOD  |  THURSDAY, 4 JUN 2020
Greg Combet has written to Standing Economics Committee chair Tim Wilson, rejecting the latter's claims of a conflict of interest in IFM's business and the demand for an APRA investigation into industry funds.
Asgard, Future Super shamed on ERS
ELIZABETH MCARTHUR  |  THURSDAY, 4 JUN 2020
At a hearing of the House of Representatives Standing Committee on Economics that was supposed to focus on ME Bank's recent troubles, the super funds performing poorly in terms of early release copped surprise criticism.
Raiz Super bleeds red
ALLY SELBY  |  WEDNESDAY, 3 JUN 2020
Raiz Invest's super offering lost a further $2 million during the month of May, with Australians taking advantage of the government's early release scheme to preemptively access their retirement savings.
FSC calls for SMSF access to infrastructure
ELIZA BAVIN  |  WEDNESDAY, 3 JUN 2020
The FSC has proposed a plan to democratise investment in domestic infrastructure development, making these projects accessible to every Australian with money in superannuation.
Industry fund appoints administrator
HARRISON WORLEY  |  TUESDAY, 2 JUN 2020
A $2 billion industry superannuation fund is set to go live with an automated superannuation administration service in early 2021 after inking a mandate with the firm.
UniSuper stares down job crisis
ELIZABETH MCARTHUR  |  TUESDAY, 2 JUN 2020
The industry superannuation fund for universities is the only defined benefit fund still open to new members in Australia, now it is grappling with how the sector has been decimated by COVID-19.
No slowdown in sight for ERS applications
ELIZA BAVIN  |  MONDAY, 1 JUN 2020
Despite COVID-19 restrictions easing across the country, applications for the Early Release of Super scheme have shown no sign of slowing, according to APRA's weekly data.
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