Super Guarantee hike leads to record $15.57 billion in employer super contributions

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Software spending strikes fresh high as Australian businesses update technology Employers paid a record $15.57 billion into employees’ superannuation accounts in the third quarter of 2013, reflecting the rise in the Superannuation Guarantee to 9.25%, according to gross domestic product (GDP) statistics released today by the Australian Bureau of Statistics (ABS). The data also showed... Read more continue reading

Women need up to $20,000 p.a. more than men in retirement

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Women’s spending habits and the fact that they outlive their men means they need a separate retirement income stream between $12,000 and $20,000 a year more than their male partners, according to Christine Hornery, director of FMS Group. “The truth is, women need more money than men but often earn less and therefore save less... Read more continue reading

Actuaries warn of retirement underfunding risk

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Australians should plan to fund at least 20 years in retirement The Actuaries Institute (the Institute) warns Australians need to be financially prepared for many years of retirement. The warning comes in response to the latest headline life expectancy rates released last week by the Australian Bureau of Statistics (ABS), which projected ‘life expectancy at... Read more continue reading

Too little too late – baby boomers claim changes to super won’t make a difference

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Only 19% of Baby Boomers say recent moves to increase super contributions will give them more confidence in their ability to fund their retirement dreams according to the 2013 RaboDirect National Savings and Debt Barometer (NSDB), launched yesterday. The survey of 2,322 Australians aged 18 to 65 also revealed the extent of the gap between... Read more continue reading

Unconventional solution needed to fund longer retirements

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With the investment world getting more and more complex, ‘vanilla’ solutions are unlikely to help investors achieve their aims – particularly those approaching retirement, says Chad Padowitz, chief investment officer at Wingate Asset Management. “Today’s pre-retirees are faced with a reality that is quite different to any operating environment in the last two or three... Read more continue reading

Saving for retirement keeps women awake at night

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Australians are worried about having insufficient funds for retirement, according to the inaugural MLC Australian Wealth Sentiment Survey. The MLC Australian Wealth Sentiment Survey takes a pulse check of how Australians are feeling about their wealth. The survey found Australians remain very cautious on the outlook for the economic environment and are focused on deposits... Read more continue reading

Green ribbon for Australian super fund

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Local Government Super adds to ESG credentials in September Industry super fund Local Government Super (LGS) further cemented its position as a leader in responsible investment this month with a series of local and global initiatives and awards. This included investing in the European Bank for Reconstruction and Development (EBRD) Green Bond, receiving a Green Star rating from... Read more continue reading

Catholic Super selects Lonsec for unique investment platform

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Lonsec platform provides direct investment solution for super fund members Catholic Super members will soon have more control, choice and flexibility of their superannuation investments with Lonsec partnering with Catholic Super to provide an intuitive investment platform to allow members to invest directly in term deposits and ASX listed securities. Catholic Super’s new investment service will... Read more continue reading

CSSA Renews Calls on Treasury to Preserve Corporate Super Services for Employers and Fund Members

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The Corporate Super Specialist Alliance (CSSA) is seeking a Future of Financial Advice (FoFA) regulation so that employers and fund members can continue to receive the financial services they need in relation to their company super funds. CSSA President, Douglas Latto said employers and policy committees need to ensure their members receive competitive benefits and... Read more continue reading

New era of e-contributions to change the face of super

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The coming three months will see Australian employers and their myriad of superannuation providers digest some of the biggest systems reforms since the introduction of the GST. The joint employer and super industry effort will deliver Australians one of the most streamlined retirement systems in the world – enabling people to consolidate funds or change... Read more continue reading