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Superannuation

Super is for income, not wealth

MICHELLE BALTAZAR  |  TUESDAY, 7 APR 2009
Super funds should start reporting their performance based on how much income they can provide to members on retirement, not on how much they return in the intervening period when the savings are locked up, said a US-based retirement expert.

Disclosing conflicts not enough: APRA

ALEX DUNNIN  |  TUESDAY, 7 APR 2009
A draft Prudential Practice Guide on conflicts of interest released by APRA has fired a shot over the bow of every entity they regulate, warning that simply disclosing conflicts of interest is not a valid defence.

AMIST narrows mandate line-up

MICHAEL HOBBS  |  MONDAY, 6 APR 2009
The Australian Meat Industry Superannuation Trust (AMIST) has dropped Legg Mason and PM Capital from its fund manager line-up as part of its investment rationalisation strategy.

Irish pensions suffer 25pc loss

RUTH LIEW  |  MONDAY, 6 APR 2009
Irish pension scheme assets axed nearly a quarter of its value in 2008 - losing nearly $38 billion to December last year.

MTAA withdraws insurance freebies

RUTH LIEW  |  MONDAY, 6 APR 2009
The $5.5 billion MTAA Superannuation Fund is axing its long-standing "six month rule" on insurance cover for certain members, citing it is "not equitable" to the rest of the fund's membership base.

AIRC sets more default super funds

ALEX DUNNIN  |  FRIDAY, 3 APR 2009
The Australian Industrial Relations Commission (AIRC) has today released the second tranche of revised Awards including details of their default superannuation funds.

UPDATE: Prime Super drops $14m mandate

RUTH LIEW  |  FRIDAY, 3 APR 2009
The $872 million Prime Super has reduced its property mandate with Lend Lease, holding on to a $20 million mandate while withdrawing $14 million to find other investment opportunities.

Super funds to show long-term returns

MICHAEL HOBBS  |  THURSDAY, 2 APR 2009
Super funds must provide detailed five and 10-year investment performance records in member statements, not just in annual reports, following new government rules.

NCSF to adopt weekly unit pricing

RUTH LIEW  |  TUESDAY, 31 MAR 2009
The $615 million National Catholic Superannuation Fund is ditching its monthly crediting rates for weekly unit pricing in a bid to increase transparency and execute faster reports on returns.

CalPERS reviews cost of hedge

RUTH LIEW  |  MONDAY, 30 MAR 2009
One of the largest super funds in the US, CalPERS, plans to put more emphasis on a hedge fund manager's long term returns than short term returns when negotiating fund fees - signalling a new way super funds pay for performance.