Superannuation funds are largely ignoring the “Stronger Super” reform that embedded after-tax investing obligations into superannuation law, says global implementation specialist manager Parametric. Raewyn Williams, Managing Director of Research, Parametric Australia, says: “Six years after the Stronger Super reforms were announced, most superannuation funds still have a pre-tax focus. “This lack of progress with after-tax returns... Read more continue reading
01
May
2019
Consolidation in the superannuation industry is happening faster than ever, and those funds looking to merge must ensure the process is conducted with the needs of members remaining top of mind, according to industry panelists at a recent QMV event. The panelists agreed that many superannuation funds that exist today will not be here in... Read more continue reading
18
Apr
2019
Catholic Super – the $9.6 billion industry fund growing retirement savings for many teachers and hospital workers – has topped a league table, returning a high 10.49 per cent over seven years for members up to 50 years old with a balance of $100,000-250,000. That’s the finding from Canstar, Australia’s biggest financial comparison site. Canstar... Read more continue reading
16
Apr
2019
The ATO has released some of the key super thresholds for the 2019/20 financial year. Transfer Balance Cap This cap is $1,600,000 and is unchanged from the 2018/19 financial year. The transfer balance cap is the maximum amount of super capital which a taxpayer can transfer during their lifetime into retirement phase and thereby benefit... Read more continue reading
15
Apr
2019
Limited transparency and disclosure from the $2.6 trillion[1] super industry is impacting advisers’ ability to provide advice on ethical and environmental, social, and governance (ESG) considerations, according to leading ethical wealth manager Australian Ethical Investment. Leah Willis, Head of Client Relationships at Australian Ethical, said that while nine in 10 Australians expect their superannuation or... Read more continue reading
12
Apr
2019
Australia is facing a major retirement funding challenge. We are living longer than ever, yet it’s becoming increasingly clear that many people don’t have enough superannuation to fund a comfortable retirement. Australia’s baby boomers are hitting retirement. Over the coming years, 5.5 million people born between 1946 and 1964 will retire; for many of those,... Read more continue reading
25
Mar
2019
New research has found that women continue to lag well behind men in all aspects of retirement confidence and preparedness. The Qantas Super CSBA Retirement Confidence Index (RCI) is the only quarterly barometer of Australian adults’ retirement confidence and asks respondents to rate their confidence in having enough money to retire comfortably, awarding a score of between 0... Read more continue reading
14
Mar
2019
Accessing super and understanding the conditions for release was the key issue financial advisers helped their clients with last month, according to AMP’s technical superannuation adviser support team. Data from more than 2000 calls made by advisers in February showed a spike in queries about early access to super. AMP’s team of technical superannuation experts... Read more continue reading
12
Mar
2019
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