Contribution timing errors have dire implications, a leading financial services lawyer has warned. ‘Now is the time to check and double check those contribution caps,’ says Peter Townsend, principal of Townsends Business & Corporate Lawyers. ‘If you or your clients are going to make further contributions before June 30 it’s important to learn from those [...]
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May
2013
Constant Federal Government tinkering with the Australian superannuation system has created distrust in the eyes of most investors, but advisers can treat this as an opportunity to show the value of the advice they provide, says Matt Walsh, head of Lifeplan. “Advisers will be facing a challenging time convincing clients they should still treat superannuation [...]
continue readingThe changes to superannuation arrangements will generate $900 million over the forward estimates to 2015/16 (0.2 per cent of annual receipts) and Federal Treasury estimates that the main measure affecting earnings from superannuation assets will affect just 0.4 per cent of retirees in 2014/15. What do the figures show? Full details of the reforms can [...]
continue readingMorningstar has published interim results of the Morningstar® Australian Superannuation Survey, providing comprehensive coverage of the performance of Australian-offered retirement savings vehicles to 28 February 2013. The Survey includes both commercial for-profit and industry superannuation options. Morningstar classifies funds according to a proprietary classification system created to facilitate meaningful peer-relative comparisons. Key Findings The solid [...]
continue readingThere is no one right post-retirement solution for all superfunds according to Russell Investments. The global asset manager says building a post-retirement solution is a complex task for funds, due to the numerous variables unique to their member profile and business objectives, but not impossible. In the new paper Retirement Solutions: A Roadmap for Super [...]
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Nov
2012
Cost has historically inhibited many superannuation funds from developing best-of-breed member data analytics solutions often available to larger retail funds with institutional backing, according to Madeline Dermatossian, Managing Director of superannuation administrator FuturePlus. Member data analytics as a science is not new and the benefits to complex operations are well understood, however, super funds are [...]
continue readingThe Standard Risk Measure adopted by superannuation funds to help investors assess investment risk may already be misleading them, according to van Eyk Head of Strategic Research Jonathan Ramsay. Mr Ramsay warned that, while he supported the concept of a standard measure of risk, the current version was already producing anomalies because it allowed funds [...]
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Oct
2012
AMP is reminding customers to consolidate their super following a successful campaign to reunite members with their lost super. Approximately $4.8 million in lost super has been returned to AMP customers so far after 17,000 members with 23,000 accounts were contacted in the first tranche. The average customer has been returned $12,000, with amounts ranging [...]
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Oct
2012
The prevailing view that superannuation funds must merge in order to survive and achieve scale does not stand up to scrutiny, according to Madeline Dermatossian, Managing Director of FuturePlus. “Many funds of a certain size¹ are feeling that they have to merge as it is the only way to achieve the scale required,” she said. [...]
continue readingOne of Australia’s leading superannuation providers has said the Productivity Commission’s recommendations for the selection and ongoing assessment of default funds in modern awards was a win for Australian workers. BT Financial Group head of superannuation Melanie Evans said, if implemented, the recommendations would result in a more transparent and competitive superannuation system. “The Productivity Commission’s [...]
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