Australians fear running out of money in retirement, so they only draw down at the minimum rates. Yet they still seem hesitant about lifetime retirement income products that would help them be more confident in retirement. Researchers around the world call that the annuity puzzle, and have been trying to solve it for decades.
In a perfect world, retirees would enjoy their chosen lifestyle with the confidence that their retirement savings will last the distance. Unfortunately, reality paints a different picture. Retirement arrives and necessitates a reconfiguration of financial strategies and budgets.
Just how super funds help members switch over to the retirement phase once they reach preservation age varies. But it is becoming increasingly tech-driven in a bid to give members a variety of ways to understand how to make the most of the retirement phase of life.
The nature of dual-class shares came under the spotlight in the recent WWE and UFC merger when misconduct-accused executive chair of the combined TKO group, Vince McMahon, installed himself back onto the board with a play on voting power. Pension funds around the world have long opposed dual-class shares, but why?
Northern Trust Asset Management has paid $29,820 to ASIC over two infringement notices for greenwashing activities, an update from the corporate regulator has said.
With growing numbers of members transitioning from accumulation to decumulation, the demands on super fund investment teams are likely also to shift substantially. The objectives of retirement are so different that separate investment portfolios and managers may be required. Aware Super and TelstraSuper shared their approach with the Fidicuary Investors Symposium.
To accommodate implementation of changes announced for the adviser exam last week, ASIC has announced the date of the first 2024 adviser exam will be 24 March.
Industry funds Mine Super and TWUSUPER are on track to complete their merger by mid 2024, announcing that the new entity will be named Team Super.
Australian Unity has appointed Kirstin Follows as executive general manager of trustees, who has been acting in the role since July this year.
Super fund administration service provider Link Group has received a $1.2 billion takeover bid from a subsidiary of Japanese giant, Mitsubishi UFJ Financial Group.
Zurich Financial Services Australia has renewed its 12-month support for Australian mental health charity Mr Perfect.
After decades of being restricted on what financial advice they can give, the country’s super funds are on the verge of a new regime that harnesses behavioural economics and allows them to more easily “nudge” members towards key decisions, after the government finally announced its full response to the Quality of Advice Review.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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