Women are faced with new retirement realities since Coronavirus hit

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Australians are feeling less confident about their retirement in a post Coronavirus world and think they might be forced to delay retirement and work longer than expected, according to new research by Colonial First State (CFS). The new CFS Retirement Realities research found: Nearly half (45 per cent) of Australians are either scared or do not feel... Read more continue reading

Equity Trustees appointed super trustee for HUB24

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EQT Holdings Ltd (ASX: EQT) (Equity Trustees) has announced its appointment as the trustee for the HUB24 Super Fund, part of HUB24’s investment and superannuation platform. As part of one of the fastest growing platforms in the market the HUB24 Super fund has $7.9 billion in funds under administration (FUA).¹ Equity Trustees’ Managing Director Mick... Read more continue reading

Superannuation proceeds trust: excepted income changes

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The recent Tax Act amendment on excepted income of testamentary trust distributions may potentially affect superannuation proceeds trusts (“SPT”) that are structured as testamentary trusts.  The amendment is an integrity measure to prevent assets unrelated to the estate being injected into the testamentary trust for the purpose of generating concessionally taxed excepted income.  Importantly, the... Read more continue reading

Australian Ethical among top performing super funds in Australia

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Australia’s original ethical investment manager Australian Ethical (ASX: AEF) has continued its track record of delivering market-leading financial returns for its members with positive impact for the planet. According to new data from leading research house SuperRatings, the Australian Ethical Balanced (MySuper) option ranked third for its one-year performance in a year dominated by the... Read more continue reading

Retirement framework must consider longevity risk protection and better, low-cost advice

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Superannuation funds should include a longevity-based product in their retirement income offerings and provide retirees with greater levels of low-cost financial advice to help improve living standards for older Australians. In a Dialogue paper, Developing the Retirement Income Framework, academic actuary Anthony Asher states that having products that more efficiently manage longevity risk will result... Read more continue reading

Super fund recovery brings FY20 returns back from the brink

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A strong June quarter has seen super funds recover from the depths of the COVID-19 crisis in March, however results for the 2020 financial year will fall shy of a positive return. As major industry and retail funds begin reporting their returns up to June, the full impact of the virus thus far has been... Read more continue reading

COVID-19: implications for those nearing or in retirement

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Talk of a recession and underlying unemployment continuing to head north of the 7.1% official rate won’t be allaying the feelings of uncertainty we’re all feeling at the moment, including those nearing, or in, retirement. While the situation this time around is different to recessions of the past, and the GFC, the need to understand... Read more continue reading

Interest from advised clients in rebuilding super rises as COVID-19 queries ease

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Clients of AMP financial advisers are seeking out strategies to rebuild their superannuation balances as enquiries about COVID-19-related help start to ease, according to the latest figures from the technical adviser support team. Data from the month of May[1] shows voluntary concessional and non-concessional super contributions were the most common topic dealt with by advisers compared... Read more continue reading

Super funds regain ground but face tough financial year end

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Super funds have proven resilient to the turmoil that hit markets in the wake of the COVID-19 outbreak, extending their recovery through May and early June, and are on track to finish the 2019-20 financial year down but far from out. According to estimates from leading research house SuperRatings, the median balanced option rose 2.1%... Read more continue reading

Australians in the dark on super investments as COVID-19 hits retirement savings

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In the weeks leading up to the COVID-19 crisis and its dramatic impact on markets, the majority of Australians believed their superannuation fund would protect their retirement savings from a downturn, according to new research from leading global pensions and investment adviser Russell Investments. The research comes as fear around the erosion of Australia’s retirement... Read more continue reading