The Australian Prudential Regulation Authority (APRA) has released a ‘heatmap’ of MySuper superannuation funds designed to smoke out underperformers. Although generally applauded by the superannuation industry and consumer groups, some say the focus of the heatmap is too narrow. Others warn that some of the funds on ... Read more
What is MySuper, and which super funds are MySuper funds?
If you are now, or even have been, an employee and can’t remember ever choosing a superannuation fund, chances are you have retirement savings sitting in one or more MySuper accounts. As we’re talking about 9.5% of your income and possibly hundreds of thousands of dollars by the time you retire, it’s worth following ... Read more
Revamp for super system: Financial Services Royal Commission recommends change
Although most media coverage following release of the Final Report from the Hayne Royal Commission has been about its impact on Australia’s banking system, the fallout for the super and financial advice industries is likely to be every bit as significant. The three-volume final report from the Royal Commission into ... Read more
Royal Commission: 9 recommendations for superannuation
The government today released the Final Report into the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. Below are the 9 recommendations concerning superannuation. See also the Royal Commission's 10 recommendations for financial advice. Trustees’ ... Read more