Volatility the new normal as super returns take a hit

From

Super members suffered sharp declines in December 2018, pushing many into negative territory for the year, with the likelihood of further losses over coming months as market volatility and political risk continue to challenge the outlook. The latest data from superannuation research house SuperRatings, reveals major fund categories all suffered declines in December 2018, contributing […]

continue reading

Picking superannuation winners is a ‘political’ solution that disregards best interest of Australians and economy

From

The recently released Productivity Commission review of the Australian superannuation industry was written to address political issues with a total disregard for the best interest of members in superannuation funds. I have worked in the superannuation and investment industry for over 40 years and its ‘Common Sense 101’ NOT to engage in picking winners. Picking fund performance […]

continue reading

Fund members to take centre stage in 2019

From

2019 is set to be a year of significant technical, strategic, and regulatory change for the Australian superannuation and insurance sectors, with long-term implications for all stakeholders in these industries, according to Wendy Colaço, principal consultant at independent consulting firm QMV. QMV has identified four key trends that will dominate the financial services landscape in […]

continue reading

Second straight monthly loss for super members as volatility becomes the new normal

From

Super members have suffered their second straight month of negative returns and are now firmly in the red for the financial year as market volatility and political uncertainty weighs on market sentiment. Nonetheless, super members remain well ahead over the long term with $100,000 invested ten years ago in any number of funds still worth […]

continue reading

Work test exempt contributions (aka ‘last drinks contributions’) details now released

From

In the 2018 May Budget, the Government announced the proposal to allow individuals who are recent retirees and who have attained age 65, to make last chance voluntary contributions by providing a one year exemption from the work test. This proposal will apply from 1 July 2019 to the 2019/20 and subsequent financial years. As […]

continue reading

Voluntary super contributions ease

From

Voluntary superannuation contributions have eased slightly after approaching record highs as super members appeared to take a breather after riding the bull market of recent years. The latest data from superannuation research house SuperRatings reveals the average voluntary contribution over the course of the 2017 financial year was $1,054. This was a 10 percent decline […]

continue reading

Local Government Super adds to responsible investment credentials with highest GRESB score to date

From

Local Government Super (LGS) has further cemented its position as a leader in responsible investment, receiving a 5-star rating and an overall score of 85/100 from the Global Real Estate Sustainability Benchmark (GRESB) assessment. LGS ranked above the peer average of 81/100 and the global average of 68/100.  GRESB is an industry backed organisation committed […]

continue reading

State Street Global Advisors defines the formula for retirement happiness

From

State Street Global Advisors, the asset management arm of State Street Corporation (NYSE: STT), has announced that it has defined a ‘formula for retirement happiness.’ In a new research paper, entitled The Global Retirement Reality Report: The Happiness Formula, State Street Global Advisors compares objective rankings of various retirement systems with qualitative results from a […]

continue reading

Don’t panic! What superannuation is teaching the post-GFC world

Ten years since the collapse of US investment bank Lehman Brothers, Australia’s superannuation funds have accumulated over $1 trillion in retirement savings, providing a windfall for members prepared to take a long-term view. According to data from leading superannuation research house SuperRatings, members with a balance of $100,000 at the end of August 2008, just days […]

continue reading

Excess transfer balance determinations now being issued by ATO

From

The ATO determines whether a taxpayer has exceeded the transfer balance limit of $1.6m and if a taxpayer has exceeded the $1.6m limit, the ATO must issue an excess transfer balance determination (ETB determination) to the taxpayer. An ETB determination means the taxpayer has too much super in pension phase. The ETB determination will specify […]

continue reading