Superannuation funds: size isn’t everything

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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. ... Read more continue reading

BT Financial Group statement on Productivity Commission findings

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One 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... Read more continue reading

Automatic consolidation of low-balance accounts

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 From January 2014, the ATO will help super funds to auto-consolidate accounts with low balances by providing details of these accounts to members’ active funds. The information will be provided annually and will include details of: lost accounts accounts that have not received a contribution or rollover for two years with balances under $1,000 accounts... Read more continue reading

SISFA questions wealth tax: “surcharge reincarnated”

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The Small Independent Superannuation Funds Association (SISFA) has questioned the intentions of the Government in imposing a wealth tax on high income earners making superannuation contributions.  “If this goes ahead, it’s clearly a disaster and really is just the surcharge reincarnated. Although it is proposed to only apply to high income earners, the reality is... Read more continue reading

BT Financial Group statement on Productivity Commission inquiry

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One of Australia’s leading superannuation providers today said the Government’s announcement of a Productivity Commission Inquiry was an important step for millions of Australian workers.  BT Financial Group head of superannuation Melanie Evans said for the superannuation system to deliver higher retirement savings, Australians needed a more open and competitive market.  “We welcome the fact... Read more continue reading

AFA congratulates Minister Shorten on SG increase

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The Association of Financial Advisers (AFA) congratulates the Minister for Financial Services and Superannuation, Bill Shorten, for taking the first step towards ensuring a better standard of living in retirement. “Minister Shorten is to be congratulated for taking what we consider to be a very important step forward,” said AFA CEO Richard Klipin. “In moving... Read more continue reading

Bendigo Wealth announces release of Bendigo SmartStart Super

Bendigo Wealth has announced the release of Bendigo SmartStart Super™. Bendigo Wealth, the wealth management division of Bendigo and Adelaide Bank, is backed by the heritage and strength of over 150 years of banking, investment and lending expertise. SmartStart Super features a full suite of low cost (0.39 to 0.99bp) index and actively managed funds –... Read more continue reading

Socialist approach of MySuper encourages member disengagement

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The Government’s Stronger Super package released this week unnecessarily dumbs down superannuation, encourages Australians to disengage with their super and wilfully ignores the fact that there are already many viable, low-cost superannuation plans that cater to the needs of everyday working Australians, according to the Corporate Super Specialist Alliance (CSSA). “The Government’s socialist approach to... Read more continue reading

BT Financial Group’s response to Government’s Stronger Super announcement

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BT Financial Group, one of Australia’s largest superannuation providers, says the flexibility the Government has included in its Stronger Super announcement will provide a solid foundation for the future of retirement savings in Australia.   BT Financial Group’s Head of Superannuation & Platforms, Melanie Evans, said the Cooper Review findings announced last year recommended a framework... Read more continue reading

AustralianSuper building in-house investment talent

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AustralianSuper is pleased to announce the appointment of Innes McKeand to the Fund’s newly created role of Head of Equities. In this role, Mr. McKeand will be responsible for the development and implementation of a comprehensive strategy for the construction and management of AustralianSuper’s equities portfolio, which consists of both Australian and international equities across... Read more continue reading