Australia’s “lump-sum” mentality when it comes to superannuation is a key challenge for government and industry, says Nick Sherry, senior adviser to Citi, arguing that the system is need of a significant change in parameters. “Australia is the land of the lump sum. I call it the lotto mentality,” he tells IM Online. “The classic […]
A typical Australian superannuation fund in the third quarter has posted its worst return since the bankruptcy of Lehman Brothers Holdings Inc., says Warren Chant, director of Chant West, a research firm that focuses on superannuation.
Bill Shorten says his proposed changes to superannuation will increase retirement savings by about $40,000, for a 30-year old worker earning average full-time wages.
Hazel McNeilage, the head of funds management at the $60.2 billion Queensland Investment Corp., will leave by year end and possibly go back to New York.
The $8 billion GESB yesterday launched a simple financial advice service covering superannuation investment options and contribution methods for all members.
The largest pension and sovereign wealth funds in the world – especially Australian super funds – are continuing to grow faster than their peers, according to the latest annual Watson Wyatt survey.