IOOF CEO Renato Mota described the direct to customer channel as the “third pillar” of member engagement likely to emerge in light of government reforms next to workplace arrangements and financial adviser referrals.
A universal pension scheme could result in “taking some off the top” by essentially removing or tapering tax concessions for higher income earners and redistributing these savings to middle income earners, Mercer's David Knox highlighted.
The crisis has accelerated the industry’s adoption of technology for manager due diligence an area where it has traditionally lagged, according to founder of Inalytics Rick di Mascio who after 30 years in the job knows how to identify manager skill.
The $50 billion fund's deputy CIO - brought onto the panel to replace a sick Sam Sicilia - said the fund had enough liquidity amidst the early release scheme to manage "well beyond even the worst scenario we could imagine".
Greater transparency brought on by new regulatory requirements will lead to funds quickly realising the writing is on the wall to merge, but time might be running out for some, Togethr and Equipsuper's Andrew Fairley says.
It’s time trustees began exploring alternatives to paper-based or PDF statements and start converging static information with interactive functionality and personal advice in a customised app to give members an incentive to engage.
The government's proposed treatment of dividend payments by retail funds as "out of scope of the best-financial interests test" doesn't reflect the policy intent of the measure or members’ best financial interests in any sense, an AustralianSuper policy submission has noted.