SUPERANNUATION

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Rest announces admin fee reduction

Yasmine Masi 30 June 2022

Australian superannuation fund, Rest, announced it has reduced the asset-based administration fee on its Rest Super, Rest Corporate and Rest Pension products by 0.02 per cent.

As of 25 June, the fee was lowered from 0.12 per cent to 0.10 per cent, while the fixed $1.50 per week administration…

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Confirmed: 125 fewer super funds in just 8 years

Mike Taylor 30 June 2022

By the end of this year there will be 125 fewer Australian Prudential Regulation Authority (APRA) regulated superannuation funds than there were eight years ago.

That is the bottom line delivered by one the major superannuation industry lobby groups – the Association of Superannuation Funds of Australia.

According to ASFA,…

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Can ASIC justify levying super funds 41% more?

Mike Taylor 30 June 2022 2 Comments

While financial advisers continue to enjoy the pause in their ASIC levy superannuation funds are wondering why they are facing a 41% increase.

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Best interests aside accountants look to increased SMSF revenue

Mike Taylor 28 June 2022 4 Comments

SMSF establishments are back on the rise and notwithstanding concerns over client best interest requirements, accountants foresee growth.

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SMSF-owned properties in NSW face new headwinds

Oksana Patron 28 June 2022 No Comments

Super funds holding real estate in NSW might be materially affected by the recent changes made to the NSW Duties Act.

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‘Failed’ super funds accused of misleading messaging

Mike Taylor 24 June 2022 2 Comments

Some superannuation funds which failed the MySuper performance test may have confused their members, says ASIC.


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Super funds warned they cannot survive at expense of members

Mike Taylor | 24 June 2022Superannuation funds facing into tougher times and volatile markets have been warned they cannot seek to survive at the expense of their members.
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More than half of under-performing choice super funds exit

Mike Taylor | 23 June 2022More than half of 220 underperforming choice superannuation funds identified by APRA have now exited or about to exit.
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Pension Boost records $100 million for HEAS

Yasmine Masi | 23 June 2022Pension Boost announced it reached $100 million in approvals of the government's reverse mortgage program, the Home Equity Access Scheme.
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10 funds forecast to fail next APRA performance test

Mike Taylor | 22 June 2022Analysis of the APRA superannuation performance test has revealed 10 more funds are likely to fail with around 7 of those having previously failed.
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JPMAM receives bond mandate to adopt YFYS reforms

Yasmine Masi | 22 June 2022JP Morgan Asset Management has won a global bonds mandate from TWUSUPER to adopt the Your Future Your Super reforms.
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20% of choice super products may fail performance test

Mike Taylor | 21 June 2022Around 20% of choice superannuation products will be at risk of failing the superannuation performance test, according to SuperRatings.
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Squirrel Super hit with $55K false and misleading marketing penalty

Mike Taylor | 20 June 2022Squirrel Super has been hit with a $55,000 Federal Court penalty over false and misleading marketing.
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Mid-life career change could double super savings

Yasmine Masi | 17 June 2022Research conducted by Colonial First State has shown individuals who make a mid-life career change and retire later could double their super.