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Superannuation

APRA dictates investment option labels

MICHAEL HOBBS  |  WEDNESDAY, 30 JUN 2010
The prudential regulator has drawn a line in the sand on how super fund investment options are to be labelled and announced it will introduce risk-based criterion for how diversified investment options will in the future be categorised.

REI Super re-signs Ibbotson

PRESS RELEASE  |  WEDNESDAY, 30 JUN 2010
REI Super has re-appointed Ibbotson Associates as its investment consultant for another three years.

State Street win $10 billion in mandates

RUTH LIEW  |  WEDNESDAY, 30 JUN 2010
State Street Global Advisors has won $10 billion in passive equity mandates from QSuper.

Bookmakers fund adopts liquidity strategy

RUTH LIEW  |  WEDNESDAY, 30 JUN 2010
The Bookmakers Superannuation Fund is removing switching restrictions to its conservative strategies, and dividing its balanced pension and accumulation options in a bid to reopen the fund which faced illiquidity problems during the GFC.

New benchmarks for better retirement: ASFA

MICHELLE BALTAZAR  |  TUESDAY, 29 JUN 2010
The Westpac ASFA Retirement Standard, which gives Australians a good indication of how much they need to save for retirement, has been adjusted to factor in modern comforts that used to be nice-to-haves but are now must-haves.

Delays for Military Super merger

RUTH LIEW  |  TUESDAY, 29 JUN 2010
The merger of the Military Super board, the Defence Force Retirement & Benefits Scheme Authority, and the ARIA Board will have to wait as the Senate did not get a chance to vote on the bill prior to the recess.

NY fund sues BP over oil spill losses

RUTH LIEW  |  TUESDAY, 29 JUN 2010
The $152 billion New York State Pension Fund is suing British Petroleum over losses from the oil spill disaster.

Westpac gives employees 12 months super pay

COMPANY RELEASE  |  TUESDAY, 29 JUN 2010
Westpac has unveilled plans to pay superannuation on unpaid parental leave for all permanent employees, starting next month.

Cbus CONNECT merger goes ahead

MEDIA RELEASE  |  MONDAY, 28 JUN 2010
Industry super funds Cbus and CONNECT today announced they have formally agreed to merge effective 1 October 2010, creating a $14.7 billion fund.

Short form PDS gets green light

RUTH LIEW  |  FRIDAY, 25 JUN 2010
Super fund members can look forward to an eight-page product disclosure statement (PDS) rather than 80, as new laws announced this week kick in.