APRA kicks off annuity capital requirements consultation
The Australian Prudential Regulation Authority (APRA) has confirmed it will proceed with a public consultation on capital settings for annuity products.
Underdeveloped infrastructure holding back retirement solutions
Super funds’ operational infrastructure, be it internal or outsourced, has struggled to keep up as funds have transitioned from a cottage industry into large, complex financial organisations servicing many members. The Conexus Institute is concerned that underdeveloped infrastructure is holding back the industry from delivering high quality retirement income strategies.
If data is really the new oil, super funds better get drilling
As Treasury consults on a set of principles for delivering optimal retirement income solutions, it’s clear that super funds must develop a much deeper understanding of members. But earlier submissions to Treasury on the retirement phase of superannuation showed that funds still struggle when it comes to gathering what they need to know about members to inform important decisions, with gaps in their knowledge and difficulties accessing shared information.
Weight of super money, valuations prompt ASIC private markets review
The sheer weight of investment by superannuation funds in private markets and growing concerns about opaque valuation methodologies has stirred ASIC into action, with the regulator today outlining its planned work on regulatory settings, with a focus on valuation methodologies, particularly when asset values are under stress.
UniSuper appoints three new members to board of directors
UniSuper has appointed Alec Cameron, Hazel Bateman and Rebecca McGrath to its board of directors.
How should investors think in a world dominated by Trump?
Donald Trump’s second term as President of the United States will stress-test the established rules of politics, trade and investment like never before, and will pose far greater challenges to investors than they faced during his first term. The Investment Magazine Chair Forum heard that the boards and management of superannuation funds must be finely attuned to the coming policy shifts and their impacts.
SLBs and the often tenuous link to sustainability
Sustainability-linked bonds and sustainability linked loans have an image issue: capital need not be directed to specific “green” projects or activities, but instead can be used for any purpose. But even when they are linked to sustainability goals, targets are often unambitious and easily manipulated. It often beggars belief that these investments can credibly sit in “sustainable” investment portfolios.
Early awareness key to addressing menopause’s financial impacts
New research has found menopause can mean an average $40,000 hit to women’s superannuation balance. Sometimes the symptoms associated with menopause and perimenopause are so bad, women are forced to leave the workforce permanently or temporarily. Even if they remain working, the financial effects are seriously impacting women’s later lives.
‘Nobody was responsible’: Court blasts AusSuper’s multiple-account failure
Almost nine years after the law changed, AustralianSuper still had not updated its business rules to automatically merge multiple member accounts. During that period, more than 90,000 members were overcharged by almost $35 million and missed out on more than $24 million of investment earnings. On Friday the Federal Court imposed a $27 million penalty on the fund.
One-way super traffic a sign of Hartley’s ongoing Insignia challenge
Insignia Financial chief executive officer Scott Hartley’s ambition is to make the company the most efficient wealth management business in the country to compete against its retail and profit-to-member superannuation competitors. But a vaguely ridiculous situation in its master trust division illustrates the kinds of challenges the business has yet to overcome to improve efficiency and become an effective competitor.
Australian and Cook Islands governments sign MoU on super portability
The MoU was signed November 2024 and represents a commitment to set up a super portability scheme between the countries.
Super sector leaders in soft power mission to Washington
A delegation of industry superannuation fund and association leaders will arrive in the US next week to promote Australia as the world’s most reliable source of long-term patient capital. It is part of a collective approach by funds to compete effectively with giant pension funds in north America, Europe, the Middle East and Asia in unlocking global investment opportunities.
