Nov 20, 2024 · The task of creating a world-class retirement system is only half-done, the Grattan Institute says. In a new report, it proposes a fix to the retirement phase based on systematic annuitisation, alongside account-based pensions, to circumvent reliance on individual funds getting their act together under the Retirement Income Covenant, which it says will take too long and produce inconsistent ...

Nov 20, 2024 · Treasurer Jim Chalmers has unveiled a policy agenda targeting the retirement phase of superannuation, including a legislative change that will allow funds to provide new retirement product features like money back guarantee. The reform package was described by Chalmers as “necessary” and the result of “consultation and collaboration” with industry in his foreword to the inaugural ...

Nov 13, 2024 · T roubled profit-to-member fund Cbus is being sued by ASIC in Federal Court due to alleged repeated failures in handling insurance claims.. The regulator alleges more than 10,000 Cbus members were impacted by death benefits and total and permanent disability (TPD) insurance claims taking over 90 days to be processed.

Oct 17, 2024 · The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.

Join us for an exclusive opportunity to hear from one of Australia’s most influential voices on foreign policy and global affairs at the next Conexus Financial Political Series event. Senator the Hon. Penny Wong, Australia’s Minister for Foreign Affairs, will provide a critical update on Australia’s role in a rapidly shifting geopolitical landscape. Sydney CBD address will be sent via ...

Nov 19, 2024 · The $34 billion Brighter Super is set to shift a significant proportion of equities assets in MySuper from passive to active management. Chief investment officer Mark Rider says the move is possible because of the scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.

Apr 4, 2024 · As the assets under management in the Australian superannuation system continue to grow – now up to $3.7 trillion – and as populations around the world age, Australia’s compulsory savings regime is attracting global attention.. While it has its shortcomings – including the need to evolve from a primary focus on worker savings to …

Jan 19, 2024 · The big eight profit-for-member funds took 80 per cent of natural flows in FY23, with mega-fund AustralianSuper leading the pack. But the nation’s largest fund also saw a slowdown in member switching, securing $9 billion, down from $14.5 billion the year before. APRA data suggests switching activity across the broader market has declined.

Nov 28, 2024 · Superannuation assets in Australia have pushed past the $4 trillion mark, blessed with strong inflows and investment performance. According to APRA quarterly statistics released on Wednesday, the total superannuation assets stood at $4.1 trillion as at 30 September 2024, representing a 13.4 per cent increase compared to September last year.

Nov 11, 2024 · Mega fund AustralianSuper said it is still feeling the pain from its very public loss in US software company Pluralsight, and even with $341 billion of assets under management, a $1.1 billion write-down is still too big a chunk of money to let go easily. But at the Fiduciary Investors Symposium, the fund’s senior private equity portfolio manager Robert Schnittger, said …