CMSF 2013

CMSF 2013

Women vulnerable in SMSFs

Those wishing to enter into a self-managed superannuation fund (SMSF) should have to meet a minimum balance under legislation, says HESTA chief executive Anne-Marie Corboy. Speaking at last week’s CMSF in Brisbane on the panel discussion A Long Way to the Finish Line, Corboy (pictured below) said women in particular are vulnerable when signing on […]
CMSF 2013

HESTA: Industry still has to achieve adequacy

Chief executive of HESTA, Anne-Marie Corboy, says industry has not looked appropriately at adequacy in the accumulation phase when considering the post-retirement landscape. Speaking at a CMSF session on adequacy and “getting to the finish line”, Corboy was critical of the view that it’s all “done and dusted” and the focus should now simply be appropriate […]
CMSF 2013

Age and tax restrictions inevitable for Super

Restriction of tax cuts to superannuation contributions and the raising of the age at which funds can be accessed to 67 are inevitable regardless of which political party is in power, says Nick Sherry. Speaking at the CMSF conference in Brisbane, the former superannuation minister said the pressure for restrictions will grow as individual retirement […]
CMSF 2013

Geldof stirs industry to action

Sir Bob Geldof closed off proceedings at CMSF 2013 with a plea to Australia’s superannuation industry to invest in the developing world, particularly Africa. The activist also urged industry to increase engagement with its members to impact policy. “One of the things you should be doing [is] going to the developing countries. You should be […]
CMSF 2013

Shorten shares delegates outrage at independents

The attempt to force industry funds to have independent trustees is a “frustrated-student political resolutions masquerading as long-term policy”, Minister Bill Shorten told delegates at CMSF. Veering from his speech in praise of Labor’s record of creating and maintaining superannuation to answer a question from a delegate, the minister for financial services and superannuation told […]
CMSF 2013

Super fraud on the rise

Payment interception by male internal staff in non-management positions represents the biggest risk of fraud for superannuation funds, KPMG’s biennial fraud survey has revealed. The profile was created from a survey of 281 financial services organisations who had detected $372.7m worth of fraud in the last two years. Three quarters of this fraud was committed […]
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