An increasing number of retirees – many of whom were not financially prepared when they stopped working – are seeking ways to live in their homes and find other sources of income to support their lifestyle. With more than 3 million Australians over the age of 65 and more than 75% of them owning their... Read more continue reading
08
Mar
2021
AMP has launched a new retirement health check advice offer for members of its superannuation funds, provided at no additional cost. The new intra-fund advice offer comes as AMP’s Financial Wellness research shows that half of Australian workers have no plans in place to achieve their retirement goals. Most workers feel in the dark about how much... Read more continue reading
05
Mar
2021
A withdrawal and recontribution strategy could over time permit a member to transfer a material part of their superannuation to a non-dependant who would not ordinarily be entitled to receive the member’s super following the death of that member. Regulation 6.22(2) of the Superannuation Industry (Supervision) Regulations (“SIS Regulations”) provides that a member’s death benefits must not... Read more continue reading
05
Mar
2021
Pension Boost is originating around 10 per cent of its government-run Pension Loans Scheme (PLS) reverse mortgages with self-funded retirees since the reforms were introduced in July 2019. The changes, which now allow self-funded retirees to access the PLS, have been fortunately timed as these retirees have been adversely impacted by the economic impacts of... Read more continue reading
25
Feb
2021
In July 2013, Australians’ superannuation savings started getting an extra boost when the superannuation guarantee contribution (the contribution that is mandated for employers to pay on top of workers’ salaries) increased above 9% for the first time in more than a decade. The plan to increase these contributions to 12% of a worker’s salary stalled... Read more continue reading
23
Feb
2021
In a pre-Budget submission to federal Treasury, the Actuaries Institute has urged the Government to simplify Australia’s superannuation regulations, review areas where retirees need extra support and legislate to make the overall objective of the retirement income system clear. The submission was lodged with the federal Government on 29 January. The Institute believes Australians should... Read more continue reading
02
Feb
2021
UniSuper, the $90 billion superannuation fund for the higher education and research sector, has surpassed $10 billion in funds under management across its three dedicated ESG investment options, solidifying its position as Australia’s largest investor in ESG-themed strategies. The three ESG-themed strategies have delivered consistent returns and grown increasingly in popularity among UniSuper members over... Read more continue reading
01
Feb
2021
Centralised Portfolio Management (CPM) can play a pivotal role in the mass consolidation of the superannuation industry that will define its future for the next 10 years, says global implementation manager Parametric Portfolio, an affiliate of Eaton Vance (NYSE: EV). “With the APRA-regulated superannuation funds on the cusp of horizontal integration, it is vital that... Read more continue reading
01
Feb
2021
Some recent comments from Federal government members and Treasury’s budget papers on super questioning the merit of Australia’s super system call for a clear response based on facts, not one based on sentiment or ideology, says Ian Fryer, General Manager of leading super research and ratings agency Chant West. While Ian believes no-one is questioning... Read more continue reading
29
Jan
2021
COVID-19 continued to be a dominant theme in Australians’ conversations with their financial advisers in the final quarter of 2020, as clients realise their plans to downsize for lifestyle or health reasons. “Clients who are looking to sell the family home are asking their advisers about what the impacts may be on their superannuation and... Read more continue reading
27
Jan
2021
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