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Superannuation

Qantas Super gets $66m injection

RUTH LIEW  |  WEDNESDAY, 8 APR 2009
The $5.6 billion Qantas Superannuation fund will receive $66 million in extra funds over the next three years from Qantas Airways Limited into its defined benefit divisions.

Vision Super banking goes live

RUTH LIEW  |  WEDNESDAY, 8 APR 2009
Members of the $4.2 billion Vision Super can now access their allocated pension funds directly through ATMs and Visa Debit cards with its recently launched banking service.

Joy Palmer Foundation established to promote ESG

ALEX DUNNIN  |  WEDNESDAY, 8 APR 2009
Statewide Super has established a foundation in honour of former trustee and chairperson Joy Palmer that will support young people within the superannuation industry interested in promoting sustainability and governance.

Plato receives $20m inflow

MICHAEL HOBBS  |  TUESDAY, 7 APR 2009
Plato Investment Management has received over $20 million of inflows from clients in the past month, breaking a cash drought that lasted more than half a year.

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.