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Superannuation

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.

NAB Super improves insurance

RUTH LIEW  |  WEDNESDAY, 23 JUN 2010
Corporate fund NAB Group Superannuation Fund has enhanced its insurance for members, including interim accident cover, terminal illness, rehabilitation and bereavement benefits.

Lessons from US pension funds in crisis

MICHELLE BALTAZAR  |  MONDAY, 21 JUN 2010
An academic paper that warns five US pension funds could run out of money in less than 10 years due to chronic underfunding and poor returns serves as a precautionary tale for local investors.

IQ Business grows 20pc due to Cooper Review

MICHAEL HOBBS  |  MONDAY, 21 JUN 2010
IQ Business Group has benefited from the Federal Government's review of the superannuation system, growing more than 20 per cent as trustees assess the potential impact.

CalPERS buys Gatwick Airport stake

PRESS RELEASE  |  MONDAY, 21 JUN 2010
The California Public Employees' Retirement System (CalPERS) has bought a 12 per cent stake in London Gatwick Airport from Global Infrastructure Partners for $178 million.

AIST alerts regulator on misleading campaign against super

MICHELLE BALTAZAR  |  FRIDAY, 18 JUN 2010
Superannuation body AIST rejects ad campaigns from mining groups claiming the proposed resources super profit tax (RSPT) will hurt retirement savings - and calls on ASIC to look into these "irresponsible" and "misleading" claims.

Tone down fund rivalry: Clitheroe

RUTH LIEW  |  FRIDAY, 18 JUN 2010
One of the most familiar faces in consumer finance, Paul Clitheroe, has urged super funds to reduce their fund ratings competitiveness, as these debates only exacerbate consumer confusion and impact their long-term savings.