Minister for Financial Services and Superannuation

Investment Strategy

First MySuper licences issued

The first of the MySuper licences have been authorised by the Australian Prudential Regulation Authority (APRA), enabling licencees to offer their products from July 1, 2013. Sunsuper was the first superannuation fund in Australia to receive its licence for Sunsuper for Life, Lifecycle Investment Strategy;  Cbus announced its authorisation for Growth (Cbus My Super) shortly […]
Investment Strategy

Industry decries opposition on LICS

Former Australian Institute of Superannuation Trustees chief executive and long-time superannuation advocate, Fiona Reynolds, has criticised the recent outcry over the Labor government’s proposal to increase tax on superannuation earnings for higher income earners. The proposal has led to fierce debate in Parliament and industry, with Labor being accused of “class warfare” in the House […]
Investment Strategy

Government considers tax relief for fund mergers

The Australian government is considering whether to provide tax relief to superannuation funds that want to merge but have suffered investment losses they don’t want members to shoulder after a merger. “The government is considering requests from funds for further merger relief,” says the office of Bill Shorten, the Minister for Financial Services and Superannuation, […]