Superannuation funds are being warned that they are legally required to understand and manage the financial risk posed by climate change, two industry experts have revealed. In the latest update by SC Noel Hutley and commercial barrister James Mack, the lawyers have advised members that superannuation...
The government has announced an overhaul of the superannuation performance test to capture admin fees and to provide certainty to funds looking to invest in domestic infrastructure and unlisted property. Fund administration fees will now be included in the government’s underperformance test for superannuation funds, which...
The government is being urged to consider a 1 per cent aged care levy to help pay for the underfunded sector following the release of the aged care royal commission findings. The aged care royal commission last month found a decades-long string of reports and inquiries exposing...
Superannuation funds have continued their “astonishing” COVID bounceback and are now likely to finish the 2021 financial year with double-digit growth, an industry expert has revealed. Stats released by Chant West showed that median growth funds, with between 61 to 80 per cent in growth assets,...
Australians who accessed their superannuation early are being urged to kickstart rebuilding their balances as the economy recovers from its first recession in three decades. Research released by Colonial First State showed that a majority of Australians who withdrew their super through the early release scheme...
Clients have many misconceptions around their superannuation and this can impact on how they plan for the future. The right questions can prompt a broader conversation on the benefits of estate planning. Many clients naturally assume that their superannuation will be paid in accordance with their...
The Government has allowed eligible people to access up to $20,000 from their super as a result of the Coronavirus crisis (a maximum of $10,000 in each of the 2019-20 and 2020-21 financial years). As a recap, to be able to apply for early access to...
Senator Andrew Bragg is pushing for the adoption of a policy enabling Aussies access to their super for home ownership purposes. Arguing that “super has damaged home ownership”, Senator Bragg told media that he will continue to push for more young Australians to have access to...
The 1 July 2021 Superannuation Changes Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general, your superannuation is either in an accumulation account (when you are...
As the march of the megafunds begins, Australia’s superannuation sector will need to seriously consider whether a merger is in their best interests. Speaking at the Association of Superannuation Funds of Australia (ASFA) annual conference, MTAA Super boss Leeanne Turner questioned whether APRA’s desire to see...
He is also an accomplished presenter and educator
Co-authoring the popular investment book, Property vs Shares.