Industry fund racket will not reduce superannuation fees

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Proposals from industry superannuation funds to the Murray Inquiry to further protect themselves from competition are desperate, unworkable and protectionist, the Financial Services Council said yesterday. Andrew Bragg, FSC Director

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Families disadvantaged due to MySuper legislation

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The mandatory transfer of personal superannuation accounts to MySuper will result in thousands of people losing insurance entitlements attached to their superannuation, according to the Corporate Super Specialist Alliance (CSSA).

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New APRA data shows FSC member funds outperform industry funds

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The first report on MySuper performance and fees released by APRA yesterday is a game changer for the way superannuation is reported, the Financial Services Council said. Andrew Bragg, FSC Director

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Milliman helps clients meet investment challenges of retirees

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The Risk Tolerance Paradox, and what you can do about it With a growing trend both globally and in Australia around low volatility, managed volatility, and portfolio risk management strategies,

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Fair Work superannuation process will cost $400 million

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The selection process by the Fair Work Commission (FWC) for default superannuation funds under Modern Awards will cost superannuation fund members a staggering $400 million if it is allowed to

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Parliamentary Inquiry must focus on the future and the past FSC says

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The financial advice industry is open to any Parliamentary inquiry provided it focuses on the future, not just the past, the Financial Services Council said yesterday. John Brogden, CEO of

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No turning back: Arbitrary transfer to MySuper exposes members to risk with no recourse

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The arbitrary transfer of thousands of personal superannuation accounts to MySuper is already underway and members have absolutely no recourse for any investment losses or life insurance lost as a

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Federal Court declares Fair Work Commission Expert Panel invalid

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The Full Federal Court last week upheld a challenge by the Financial Services Council and determined that the Fair Work Commission Expert Panel for the selection of MySuper default funds

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ASIC reviews MySuper product dashboards

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ASIC has issued further guidance to superannuation trustees about their obligation to produce a product dashboard for MySuper products, following a review of existing MySuper product dashboards. ASIC reviewed a

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CSSA rejects MySuper red tape claim

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The Corporate Super Specialist Alliance (CSSA) disputes that making any MySuper fund a default fund will result in unnecessary costs and expensive red tape. “We actually think the opposite is

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