CPD: Unlocking value for retirement income

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For many retirees, the family home represents their primary source of personal wealth. For most, paying off the mortgage has been more important than making additional contributions to superannuation, creating the ‘asset rich, cash poor’ generation. This will likely be followed by a generation of retirees who are still paying the mortgage or, in some […]

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Changes to superannuation are almost here – don’t keep your head in the sand

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It’s time to seriously consider tax-effective options outside of super. According to Neil Rogan, General Manager of Investment Bonds for Centuria, time is running out for Australians likely to be affected by changes to superannuation which come into effect on 1st July 2017. He warns advisers and their clients to take stock of what the […]

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Understanding the upcoming changes to super contribution limits

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On 1 July 2017, some of the widest-sweeping reforms to super since 2007 will come into effect. These reforms aim to limit the amount of money people can contribute to super and transfer to the tax-free pension phase. There has been a lot of focus on the complexities around the $1.6m limit on funds in […]

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Superannuation funds should bypass “black box” for alternative investments, says Parametric

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The US-based implementation fund manager, Parametric, has devised an alternative source of return that will allow APRA-regulated funds to bypass hedge funds. Tom Lee, Managing Director Investment Strategy and Research, and Raewyn Williams, Managing Director – Research (Australia), have launched a new research paper prompted by superannuation fund trustees becoming uncomfortable with opaque ‘black box’ […]

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Do I boost my super or reduce my home loan?

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Does it make sense to make additional concessional contributions to superannuation if you still have non-deductible debt such as a home loan? The maths is simple for an average couple on the average tax rate. If $1 of earned income is paid to their personal bank account, the tax man currently collects 39 cents in […]

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Proposed changes to default super to deliver enhanced choice and better financial outcomes

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The Productivity Commission (PC) has recommended changes to the $474 billion default super market that would encourage greater customer choice and engagement.  If enacted, the changes will result in employees holding fewer super accounts, potentially delivering them better financial outcomes through improved returns and reduced fees. The draft report[1] proposes four model alternatives to allocate […]

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Super industry expects 2017 to be better than last year

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The pace and poignancy of change has certainly heightened in the past few months; spurred on by new leadership in the US, as well as increasingly innovative ways organisations, are using technology. If Amazon (soon to hit our shores in a big way) can sell cars online, while Alibaba has become the world’s biggest e-commerce […]

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Productivity Commission draft report on alternative models for default super released

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The Productivity Commission (PC) has released its draft report on alternative models for default super, supporting an overhaul of how members join default super funds.  The PC will finalise their report by July 2017 that will feed into its subsequent Review of the efficiency and effectiveness of super. In the report the PC proposes removing […]

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Fair and sustainable super regulations passed into law

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After receiving feedback from industry, the federal parliament has passed amendments giving effect to regulatory change, continuing the implementation of changes to superannuation that were announced by the Turnbull government in the 2016 federal budget. Martin Breckon, IOOF’s Head of Technical Services said “We are pleased to see the Government continuing to refine the operation […]

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WSSA responds to Productivity Commission MySuper Review

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Fewer superannuation funds, reduced innovation and less competition within superannuation funds could be the future of superannuation in Australia if the Government chooses to go down the path of a tender or auction for fund selection, which looks to restrict the number of default funds to a maximum of 10. According to the Workplace Super […]

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