A study has found that among retirees who drew down their super at the minimum legislated rate last financial year, 19 per cent thought the number was a government recommendation, highlighting a gap in understanding about the requirements among the public.
The Federal Court has ordered superannuation trustee OnePath Custodians to pay a $5 million penalty for making false or misleading representations about its right to continue charging fees, and for failing to provide services to members efficiently, honestly and fairly due to its misleading conduct and by deducting fees when not entitled to do so.
Allianz Retire+ has updated its longevity solution Allianz Guaranteed Income for Life (AGILE), introducing two new options, Age Pension+ and Spouse Insured.
More than half (59 per cent) of Australians said inflation has changed the way they think about retirement in the past 12 months, with 54 per cent opting for a more conservative investment approach, according to the 2023 MFS Global Defined Contribution Survey.
Close to two in three Australian non-retirees don’t know about existing retirement income products offered by their super funds, according to new research by Investment Trends and life insurer TAL.
Financial advisers are focused on helping their clients navigate super contributions, conditions of release or withdrawals, transfer balance caps and home ownership issues, according to the latest data from AMP Advice.
Commonwealth Superannuation Corporation will move into the next stage of its Retirement Income Strategy in early 2024, enlisting Challenger to develop a longevity solution to help meet its customers’ needs in retirement.
Some 73 per cent of financial advisers said they could use more support to educate clients about the potential implications of geopolitical tensions, according to a new poll conducted by Viridian.
Hostplus investment chief Sam Sicilia has made the extraordinary claim that the $103 billion fund “doesn’t care” about interest rates, inflation, legislative changes or the politics of the day when it comes to making investment decisions. In an exclusive interview to open the Fiduciary Investors Symposium, he said the only macro issue he really worried about was the most disruptive: war.
Industry insiders may well bristle at the thought of yet another parliamentary inquiry into superannuation and related issues. But it is also a chance for the sector to make its own case on member experience and customer service standards, and for the newly unveiled CEOs of the SMCA and ASFA to prove their advocacy credentials.
Interest rates are reaching levels where they are hampering economies and the domestic inflationary forces still swirling could prove tougher to quell than the price increases caused by global shocks. Investors might have become too optimistic.
Despite recent commercial property downturn, real estate investment and research leaders from Blackrock, ART and JANA believe the future is not all grim.
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