Government pulls the wrong lever by delaying SuperStream

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A seasoned industry practitioner is highly critical of the Federal Government’s decision to push back the date by which superannuation funds must comply with the SuperStream contributions data standards. Superannuation funds now have up to 1 July 2015 to meet the new standards. SuperGuardian and Xpress Super CEO Olivia Long says that the Australian Taxation... Read more continue reading

Defence Bank launches new super and pension product

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The Defence Bank has expanded its offering to members and potential members with the launch of a new superannuation and pension product. Called Defence Bank Super, the new product has been designed for members in either the accumulation or the retirement stage of life. The CEO of the Defence Bank, Jon Linehan, says the decision... Read more continue reading

Joint superannuation accounts – the next front in a long campaign to better engage fund members

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Finding ways to truly engage superannuation fund members with their retirement savings outcomes is a long-term industry conundrum in Australia. Superannuation funds have embarked on numerous approaches to improve member engagement levels, with mixed results. Aside from the economic imperatives for funds to attract and retain members, there is a long list of member and... Read more continue reading

Young people take more active interest in superannuation

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In a break with tradition, young people are taking a more active interest in their superannuation with the 30-49 year old group being the most concerned about planning for retirement, according to the latest quarterly MLC Wealth Sentiment Survey. Both men and women in this age group rated their concern about having adequate funds for... Read more continue reading

To Infinity … and beyond

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“Local Government Super takes out the Infinity Award for the third time” Local Government Super (LGS) has been announced as the winner of this year’s SuperRatings Infinity Award. The Award is presented to the superannuation fund that best demonstrates its commitment to addressing its environmental and ethical responsibilities. Local Government Super CEO, Peter Lambert, accepted... Read more continue reading

Australian custody and administration sector continues growth trajectory

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The Australian custodial and administration sector continues to grow strongly driven by rising equity markets, with the latest industry statistics released by the Australian Custodial Services Association (ACSA) revealing total assets under custody for Australian investors grew by 8.3% to $2.32 trillion in the six months to 31 December 2013. The research from ACSA, the... Read more continue reading

MLC calls on women to take action on super

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Ahead of International Women’s Day, MLC is raising awareness about the importance of superannuation and the amount of savings women will need in retirement. Women retire with 40% less super than men which means too many women are risking a very basic lifestyle in retirement.  Additionally one in four women will have little or no... Read more continue reading

AMP launches Super product for growing middle market employer segment

AMP has launched a new corporate superannuation solution for the growing middle market, a segment which now accounts for 25 per cent of Australian workers. AMP SignatureSuper Select will offer medium sized companies with between 50-750 employees a sophisticated corporate superannuation product with over 30 investment options, flexible insurance arrangements, a tiered pricing structure and... Read more continue reading

Aged-care complexity continues, despite government reforms

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Centric Wealth says bonds now creating most confusion for elderly and their families Leading wealth management advisory firm, Centric Wealth, today said that despite the Federal Government’s Living Longer Living Better reforms, the aged care industry continues to be plagued by complexity and uncertainty, particularly in relation to bonds. An accommodation bond, or accommodation charge,... Read more continue reading

AMP North hits $10 billion FUA, up from $2 billion in just 3 years

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AMP’s flagship wrap platform North has hit $10 billion in Funds Under Advice (FUA), a five-fold increase since it launched as a full wrap platform with $2 billion in FUA in 2011. AMP Director of Superannuation Patricia Montague said North’s strong growth was driven by investment in the platform features increasing its appeal to customers.... Read more continue reading