‘The right vehicle’: Super funds handed starring role in financial advice reforms

Minister for Financial Services Stephen Jones on Thursday gave the clearest indication yet he expects super funds to give more advice to more Australians, as he unveiled the government’s plan to implement much of the contentious Quality of Advice Review report. Mega-funds including AustralianSuper, UniSuper and Aware Super backed the package as a major win, but many other funds may be nervous about the new regime they have been thrust into.

‘Utter disaster’ to subject retirement products to YFYS-style benchmarks

A Your Future Your Super-style test for retirement income products would be “an utter disaster”, leading superannuation fund researcher Ian Fryer of Chant West has warned. The comments follow the release of Treasury’s discussion paper this week.

Senate’s new super inquiry sets scene for election fight

NSW Coalition Senator Andrew Bragg says the latest parliamentary inquiry into the superannuation system will be partly used to debate the merits of retirement savings being put towards home ownership. In a wide-ranging interview with Investment Magazine, the outspoken critic of the sector also conceded funds were right to take climate risk seriously, bucking the trend of some centre-right politicians.

Fund trustees directing members to retirement solutions is the missing link

As Treasury releases its discussion paper on regulation of the retirement phase, David Bell and Geoff Warren of The Conexus Institute argue that an affordable trustee-directed mechanism should be facilitated so that all super fund members can receive some retirement guidance.

Cbus CEO Kristian Fok on why CIOs can’t be ‘shy petals’

Construction industry super fund Cbus overhauled its executive team structure earlier this year, marking the first major organisational change made by CIO-turned-CEO Kristian Fok. He told the Fiduciary Investors Symposium it was a natural progression and that these days the roles of CEO and CIO are not worlds apart.