Search results for: “Superannuation Compliance”
-
How automation is improving superannuation customer service
Automation is revolutionizing various industries, and the superannuation sector is no exception. Superannuation funds are increasingly turning to automation to enhance their customer service offerings. From streamlining administrative tasks to providing personalized and efficient services, automation is playing a pivotal role in improving the overall customer experience in the superannuation industry. In this article, we…
-
AusSuper Dominates Superannuation Growth: Outperforms Rivals
AustralianSuper, the largest superannuation fund in Australia, has demonstrated remarkable growth outpacing its competitors in the recent financial year, as revealed by data from The Conexus Institute. This surge in growth positions AusSuper as a dominant player in the superannuation sector, showcasing its ability to outperform its rivals. Superannuation funds play a crucial role in…
-
Superannuation Funds Under Scrutiny: ASIC’s Directives to Speed Up Claims
Superannuation Funds Under Scrutiny: ASIC’s Directives to Speed Up Claims A recent investigation by the Australian Securities and Investments Commission (ASIC) has shed light on the challenges faced by superannuation funds in processing death benefit claims swiftly. ASIC’s review of major super fund trustees revealed significant shortcomings in handling claims, leading to undue hardships for…
-
Will superannuation funds adopt more cryptocurrency investments?
Superannuation funds are always looking for new investment opportunities to maximize returns for their members. In recent years, cryptocurrency has gained significant attention as a potential investment avenue. The question on many investors’ minds is whether superannuation funds will adopt more cryptocurrency investments in the near future. The Current State of Cryptocurrency Investments in Superannuation…
-
How blockchain could impact superannuation fund management
Blockchain technology has been making waves in various industries, revolutionizing the way transactions are conducted and data is stored. One area where blockchain could have a significant impact is in superannuation fund management. Superannuation funds are a crucial part of many people’s retirement savings, and any technology that can improve transparency, security, and efficiency in…
-
How artificial intelligence (AI) is changing superannuation management
Artificial intelligence (AI) has been revolutionizing various industries, and the world of superannuation management is no exception. Superannuation, also known as pension or retirement savings, plays a crucial role in ensuring financial security for individuals after they retire. With the help of AI, superannuation management has become more efficient, personalized, and convenient for both fund…
-
How to switch super funds while ensuring legal compliance
Switching super funds is a crucial decision that can significantly impact your financial future. Whether you’re looking for better Investment Options, lower fees, or improved customer service, changing super funds requires careful consideration and planning. However, it’s essential to ensure that you comply with all legal requirements when making this switch to avoid any potential…
-
What are the legal obligations of superannuation trustees?
Superannuation trustees play a crucial role in managing and safeguarding the retirement savings of millions of individuals. As fiduciaries, superannuation trustees are entrusted with the responsibility of ensuring that members’ interests are prioritized and that the fund is managed in accordance with the law. In this article, we will delve into the legal obligations of…
-
ASIC Targets AustralianSuper: Superannuation Oversight Tightens
In a significant move, the Australian Securities and Investments Commission (ASIC) has intensified its regulatory oversight by taking legal action against AustralianSuper, the country’s largest industry fund. This action underscores ASIC’s commitment to regulating the superannuation sector more rigorously and dispels any notion of special treatment for superannuation funds. Before January 1, 2021, ASIC’s authority…
-
Financial Advisers Under Scrutiny for Superannuation Missteps
Financial advisers are facing increased scrutiny from ASIC due to errors in superannuation advice, as reported by ifa. ASIC has taken action against advisers for providing poor superannuation advice that led clients to surpass contribution caps or untaxed plan limits, resulting in higher tax payments. This regulatory intervention followed the discovery of compliance breaches reported…