Superannuation News Wrap

In this week's "Weekly Superannuation News Wrap," we discuss the recent Retirement Conference in Canberra, focusing on the critical need for superannuation funds to collaborate with insurers to adhere to Retirement Income Covenant obligations. Several challenges, such as a lack of data and educational issues, mar the progress, but initiatives like "Retirement Magazine" from Conexus Financial aim t...

This update covers key points from the recent Retirement Conference in Canberra, where APRA's deputy chair, Margaret Cole, stressed the importance of superannuation funds collaborating with insurers to meet Retirement Income Covenant obligations. Other obstacles mentioned include members remaining in accumulation mode, lack of data on spending patterns, and trustee education needs. To address thes...

In this week's Financial Services Online Superannuation News Wrap, discussions from the recent Retirement Conference in Canberra centered on the need for superannuation funds to collaborate with insurers to meet Retirement Income Covenant obligations. Industry experts highlighted issues such as members holding onto accumulation mode, lack of spending habit data, and trustees facing skill developme...

In this week's Superannuation News Wrap, Paige Estritori presents key stories from the Australian superannuation industry. Major topics include the call for superannuation funds to collaborate with insurers to meet Retirement Income Covenant obligations, a plea echoed by APRA's Deputy Chair Margaret Cole and ASIC Commissioner Simone Constant. The Conexus Institute also emphasises the importance of...

In this week's Financial Services Online podcast, host Paige Estritori discusses the newly added anti-fraud feature in SuperMate, Australia's third-largest SMSF solution, in response to rising financial threats. The sophisticated system enhances transaction security, especially for corporate clients. Such improvements are essential, given the AUD 2.7 billion lost to scams in the previous year. The...

In this episode of the Weekly Superannuation News Wrap, we discuss SuperMate's new anti-fraud feature that enhances transactional security and supports workflow automation and improved integration efforts. This is particularly relevant given Australia's increasing scam losses which amounted to over $2.7 billion in 2023. We explore the growing call for legal reform in the financial sector, focusing...

This episode provides vital updates from the superannuation industry in Australia. Key highlights include SuperMate's launch of an advanced anti-fraud feature targeting bank accounts for tax refunds and superannuation contributions. There's also a section on the efforts of several financial bodies to protect family abuse victims by proposing reforms preventing violence offenders from claiming vict...

In this week's Weekly Superannuation News Wrap, Paige Estritori discusses key developments in Australia's superannuation sector, including a call for profound changes in superannuation death benefit laws. Leading bodies advocate for reforms to prevent family violence perpetrators from accessing victims' death benefits, aiming to expand the Forfeiture Rule and empower super funds to withhold death...

In this week's update on Australia's superannuation industry, Paige Estritori highlights calls for revisions to superannuation death benefit laws aimed at enhancing protections for family violence survivors. Industry bodies are pushing to broaden the Forfeiture Rule, preventing violence perpetrators from accessing victims' benefits. The episode also discusses leadership changes within the sector:...

This episode of the Weekly Superannuation News Wrap explores key issues in the Australian financial sector. A coalition of superannuation bodies calls for a vital revamping of superannuation death benefit laws to safeguard victims of family violence. Leadership changes are announced with Sam Wall appointed new CEO of Iress' Superannuation division and Catherine Bolger elected as REST's new employe...

In this week's episode of Financial Services Onlines Weekly Superannuation News Wrap, host Paige Estritori summarizes crucial Australian superannuation industry developments. Major changes occur within businesses like Iress, appointing Sam Wall as the new CEO for their superannuation division, and REST announcing Catherine Bolger as the new board director. Regulatory issues arise as the Australian...

In this week's Financial Services Online update, critical news from the Australian superannuation sector is discussed. Highlights include executive reshuffling at Iress as industry veteran Sam Wall is set to head its superannuation division. Catherine Bolger's appointment as Employee-Nominated Board Director at REST Super Fund marks another key personnel change. The Federal Court's landmark ruling...

This episode of the Weekly Superannuation News Wrap discusses key events around the management of superannuation funds in Australia. The Federal Opposition criticizes the Australian Prudential Regulation Authority (APRA) over controversial payments from industry superannuation funds to unions. APRA maintains it continually audits these funds, and underlines the crucial role of trustees, while also...

In this episode, Paige Estritori examines recent superannuation events including issues surrounding the Australian Prudential Regulation Authority (APRA) and industry fund payments, some of which are directed towards trade unions. While permissible under the Superannuation Industry Supervision Act, ongoing audits and ethical questions persist. Mercer Super falls under scrutiny for falsely promotin...

In this week's episode, The Weekly Superannuation News Wrap focuses on the scrutiny the Australian Prudential Regulation Authority (APRA) is facing from the Federal Opposition regarding payments from industry superannuation funds to unions, particularly the CFMEU. APRA defends these transactions, highlighting the importance of prudent expenditure management and emphasizing the existing Superannuat...

In this week's Superannuation News Wrap, we discuss the Federal Court's $11.3M fine against Mercer Super for misrepresenting its investment sustainability. The Australian Securities and Investments Commission initiated this legal action due to misleading 'eco-friendly' options, emphasizing the need for transparency in finance. We also highlight the Financial Services Council Standard No 29, introd...

In this week's superannuation news wrap-up, Paige Estritori from Financial Services Online discusses significant strides towards consumer protection in Australia's superannuation sector. The Financial Services Council has introduced FSC Standard No 29, aimed at safeguarding $3.5 trillion in retirement savings. Major industry players have already begun implementing this new, currently voluntary sta...

This podcast from Financial Services Online covers the Weekly Superannuation News Wrap for Saturday, August 3rd, 2024. The episode highlights three significant occurrences in the world of superannuation: The introduction of FSC Standard No 29 by the FSC, designed to amplify consumer protection in the superannuation sector; the introduction of new audit reporting obligations for superannuation fund...

In this installment of the weekly Superannuation News Wrap, Paige Estritori discusses significant developments in Australia's superannuation industry. Major companies are adhering to anti-fraud measures under a new scheme, FSC Standard No 29, to secure approximately $3.5 trillion in retirement savings. The program enables customization to suit individual consumer needs, emphasizing focus on securi...

Paige Estritori of Financial Services Online takes listeners through the recent happenings in the superannuation sector. Developments include the introduction of the Financial Service Council's Standard No 29, which promises to enhance consumer safeguards in the industry and potentially protect $3.5 trillion in retirement savings across Australia. Additionally, regulatory changes mandate superannu...

This week's Financial Services Online podcast focuses on significant moves within the Australian superannuation industry towards social responsibility. The episode highlights a partnership between AustralianSuper, HESTA, Assemble, and Super Housing Partnerships to tackle the national housing crisis with affordable housing solutions and scalable investment opportunities. The podcast also features R...

This week's superannuation industry news from Financial Services Online features major Australian funds, AustralianSuper and HESTA, bolstering their commitment to affordable housing through a collaboration with developer Assemble, to address the national housing crisis and provide risk-adjusted investment returns. Meanwhile, eco-conscious fund REST has pledged AUD$112 million to the Delta fund, ma...

In this episode of the Weekly Superannuation News Wrap, Paige Estritori discusses key developments in the Australian superannuation sector. Major headlines include AustralianSuper and HESTA joining with Assemble and Super Housing Partnerships to boost affordable housing, capitalizing on large institutional investments and focusing on diverse housing needs. In green investment news, superannuation...

In this podcast episode, Paige Estritori of Financial Services Online discusses key updates in the Australian superannuation sector. REST Superannuation Fund commits to sustainable finance by investing in the Delta Fund and a Canadian renewable energy firm, LiftWerx. Despite its association with CFMEU, Cbus continues to thrive through boardroom diversity and strategic mergers with EISS Super and M...

In this week's Superannuation News Wrap, we discuss the cooperation between Cbus and CFMEU, focusing on Cbus's growth despite Senate questions about union-associated super funds. We also highlight the recent partnerships with EISS Super and Media Super underscoring the impact of unions on the industry. Then, we explore Spirit Super's strategic move to entrust its $30 billion in assets to J.P. Morg...