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Superannuation

LUCRF makes history

ALEX DUNNIN  |  FRIDAY, 11 JUL 2008
The superannuation industry doesn't often talk about its history but 2008 marks a century since the introduction of age pensions and thirty years since the birth of LUCRF, Australia's first modern super fund.

Businesses weighed down by choice

MICHAEL HOBBS  |  THURSDAY, 10 JUL 2008
A survey of payroll managers found 60 per cent of respondents found the choice-of-fund process frustrating and labour-intensive, costing an average business tens of thousands of dollars each year on administration spend.

Qantas Super raises insurance cover

RUTH LIEW  |  THURSDAY, 10 JUL 2008
The $6.6 billion Qantas Superannuation fund has introduced minimum death cover to its default funds.

The house that Sherry built

MICHELLE BALTAZAR  |  WEDNESDAY, 9 JUL 2008
The man who chaired the passage of the Superannuation Guarantee (SG) Bill 20 years ago is back in the limelight, this time with ambitious plans to dismantle the country's jerry-built superannuation system and replace it with a cheaper and more member-friendly ...

Swedish pension lessons for Australia

ALEX DUNNIN  |  WEDNESDAY, 9 JUL 2008
Senator Nick Sherry, minister for superannuation and corporate law, has suggested Australia look to Sweden's nationalised pension system for a model of how to operate a low-cost superannuation system. But is this the right comparison?

Goodbye ACMSF, hello Sunsuper

RUTH LIEW  |  WEDNESDAY, 9 JUL 2008
The $165 million Anglican Church Master Superannuation Fund (ACMSF) closed its doors last month - prompting the transfer of all members and assets to the $13 billion Sunsuper.

Unlisted assets poised for higher illiquidity premiums

MICHELLE BALTAZAR  |  TUESDAY, 8 JUL 2008
Property experts predict the LPT sell-off will trigger a price correction in the direct property market but at least when the dust settles, super funds should enjoy illiquidity premiums not seen in years.

Qantas Super switches to monthly MIC

RUTH LIEW  |  TUESDAY, 8 JUL 2008
The $6.6 billion Qantas Superannuation fund is replacing its quarterly member investment choice (MIC) switching options to monthly.

US pension fund to settle suit for $930m

RUTH LIEW  |  FRIDAY, 4 JUL 2008
The largest public pension fund in the US fires a warning shot against companies with lousy corporate governance when it demanded a company it invests in to re-write its CG policy and pay a $930 million cheque for wrongful share trading.

FTSE100 pensions in the red

MICHAEL HOBBS  |  THURSDAY, 3 JUL 2008
Watson Wyatt found FTSE100 companies' pension funds turned a combined $48 billion surplus a month ago into a $16.5 billion deficit last month due to the double whammy of stock market falls and high inflation.