Author: Recruitment Super
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APRA Report Reveals Superannuation Industry Trends and Consolidation
APRA’s annual release of fund-level superannuation statistics offers insights into Australia’s superannuation industry trends. The industry size, estimated at $2.2 trillion, reflects consolidation and concentration trends, with mega-funds increasing market share. Consolidation activities, including mergers and new entrants, have reshaped the industry landscape. The dominance of big funds, encompassing mega, very large, and large funds,…
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Managing Superannuation in Divorce: Expert Tips for SMSFs
Recently, Western Australia aligned itself with the rest of the country by enacting laws allowing de facto couples to divide their superannuation benefits upon separation. With approximately 200,000 de facto couples in Western Australia, these new laws offer some protection during a split. However, managing superannuation in divorce settlements can be intricate, especially when dealing…
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APRA Urges Caution in AI Adoption for Financial Institutions
Member Therese McCarthy Hockey recently delivered remarks at the AFIA Risk Summit 2024, representing the Australian Prudential Regulation Authority (APRA). Reflecting on the historical predictions of technological advancements, Therese highlighted the evolving landscape of artificial intelligence (AI) and its potential impact on various industries. Life 3,0: Being Human in the Age of Artificial Intelligence |…
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PensionBee Launches Innovative Retirement Savings Calculator for Americans
PensionBee, a renowned online retirement savings provider, has introduced a groundbreaking retirement savings calculator aimed at assisting Americans in planning for their financial future. This innovative digital tool is designed to help users develop personalized retirement strategies seamlessly integrated with PensionBee’s existing features, such as easy contributions and 401(k) rollovers. Savings Building Planner: Savings Tracker…
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Rise of Cryptocurrency in Australian Pension Funds Signals Strategic Shift
The integration of cryptocurrency into Australian pension strategies has evolved significantly in recent years, transitioning from a speculative interest to a calculated allocation strategy. By 2025, self-managed superannuation funds (SMSFs) in Australia hold approximately $1.7 billion in crypto assets, a substantial increase from 2021. This growth is primarily attributed to younger investors and smaller funds,…
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Experts Advise Caution in Adjusting Investment Portfolios for Growth
Investors often wonder about the right timing to adjust their investment portfolios, particularly during periods of market volatility. Experts caution against making hasty changes based on market conditions, as history has shown that such knee-jerk reactions may not yield favorable outcomes. Tony Molina, a senior product specialist at Wealthfront, emphasizes that impulsive portfolio adjustments usually…
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Albanese Government Enacts Landmark Superannuation Objective Legislation
The Albanese government has achieved a significant milestone by enacting legislation that establishes a clear objective for the super system. This development, which received bipartisan and cross-party support, aims to bring an end to the continuous adjustments made to superannuation laws. The initiative, initially proposed in 2014 following the Financial System Inquiry by David Murray,…