As almost every market in the world looks to move from defined benefit to some sort of defined contribution model, academics at the Pensions Institute of the Cass Business School, City University London have developed a set of 15 principles for designing a defined contribution model. The principles, consistent with the recently published OECD guidelines, are based … Read more
Retail advisers placing clients into self-managed superannuation funds (SMSFs) have come under fire from Media Super chief executive Graeme Russell. In his first week on the job, Russell told IM that industry funds are seeing members being rolled out into SMSFs despite meagre savings, and industry has to take note. “Every fund’s seeing people being … Read more
A new video campaign by advocacy group GetUp! criticising the tax concessions afforded higher income earners has drawn a mixed response from the superannuation industry, with some questioning the accuracy and validity of the message. On its website, GetUp! is calling for the public to sign up for “fairer super”, with a video that says a … Read more
The Fund Executives Association Limited (FEAL) has launched a mentoring program, drawing on the experience and expertise of industry leaders. The initiative, in partnership with Franklin Templeton Investments, is a platform for senior industry executives in superannuation to guide the next generation of leaders. Executives who have signed up to offer mentorship include the chief … Read more
A combination of greater regulatory requirements, higher data standards and an increasing number of claims in group insurance have caused premiums to rise. According to a recent Conexus Financial/CommInsure roundtable, higher premiums are consequently here to stay. The Prudential Standard SPS 250 requires insurance records going back at least five years, covering claims, membership, the … Read more
Is there anything that the woebegone United Kingdom pensions sector can teach the internationally admired system of Australian superannuation? The best bet would be how not to get into the same mess. The UK industry was in a healthy state back in the 1980s, but some well-meaning pieces of legislation led to crisis. Giving employees … Read more
Those wishing to enter into a self-managed superannuation fund (SMSF) should have to meet a minimum balance under legislation, says HESTA chief executive Anne-Marie Corboy. Speaking at last week’s CMSF in Brisbane on the panel discussion A Long Way to the Finish Line, Corboy (pictured below) said women in particular are vulnerable when signing on … Read more
QSuper has begun segmenting member investments according to age and account balances, in what it is heralding as the end of an era of one-size-fits-all default funds. Rosemary Vilgan, chief executive of QSuper, believes this approach matches best practice globally, meets new higher duty of care standards for MySuper and is being closely looked at … Read more
The finalists of the Chant West/Conexus Financial Super Fund Awards have been revealed by the research house Chant West. The firm last week informed finalists across 10 categories, including Super and Pension Funds of the Year and Master Trust of the Year. The finalists for Super Fund of the Year are AMP Signature Super, AustralianSuper, … Read more
Gerard Fitzpatrick, senior executive leader of investment managers and superannuation at ASIC, talks to IM online about implementation of Stronger Super, and the issues facing superannuation funds. For ASIC’s guidance, go to its superannuation funds page on the ASIC website.
Tom Garcia has big shoes to fill. His predecessor, Fiona Reynolds, had the rare combination of qualities that made her very influential, persuasive, knowledgeable and liked. As the new, and only second, chief executive of the Australian Institute of Superannuation Trustees, Garcia has the challenge of continuing the good work of its old head and … Read more
If the average length of stay by shareholders in the top 200 US companies is 20 minutes, what is the impact of that on long-term investing? Watch David Gonski, chairman of the Future Fund, share his views on high-frequency trading and the economics of investment.
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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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