Superannuation is now very much super-sized, with 187 super funds and $2.9 trillion invested. Here we list the 20 largest super funds in Australia so that you can benchmark your own fund.
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This month we look at the new proof-of-life certificates required for pensioners overseas, the launch of Australia’s first independent superannuation consumer advocacy organisation, the announcement of a major review of Australia’s retirement income system and an awareness campaign to help you stay safe online.
Many SMSF investors are in the dark about what are typical SMSF fees, and whether they are paying a fair price for SMSF advice and services.
SMSF trustees have specific legal compliance obligations for any collectable or personal use assets that they have in their fund. The most important of these obligations is that these assets cannot provide any present-day benefits for fund members or related parties.
An anti-detriment payment is an additional lump sum amount paid to the eligible dependant of a super fund member who dies (in addition to a lump sum death benefit that is paid to the dependant on the super fund member’s death).
Announcing a government inquiry is always big news, but when the Australian Government declared it was establishing a royal commission into Australia’s banks, it really made a splash.
The 2015 Intergenerational Report makes it clear that Australia will have an ageing population by 2055 and the undeniable fact that we are living longer.
By mid-century, Australia will have about 40,000 people aged 100 and above – well more than 300 times the 122 centenarians there were in 1975, according to the Intergenerational Report (IGR) released on Thursday.