Author: Recruitment Super
-
Aussies Demand Clarity Amid Superannuation Cyber Attack Chaos
Amidst the chaos caused by suspected cyber attacks on several major superannuation funds in Australia, individuals are demanding clarity regarding the security of their retirement savings. The incident left many members unable to access their accounts, some even finding their balances reduced to zero overnight. This alarming situation has sparked concerns and uncertainties among Australians,…
-
What are the biggest superannuation myths and misconceptions?
Superannuation is an essential part of financial planning for many individuals, especially in countries like Australia where it is mandatory for employers to contribute to their employees’ super funds. However, despite its importance, there are several myths and misconceptions surrounding superannuation that can lead to confusion and potentially impact one’s retirement savings. In this article,…
-
First Home Super Scheme
The First Home Super Scheme is a government initiative aimed at helping first-time home buyers save for a home deposit through their superannuation fund. This scheme allows individuals to make voluntary contributions to their superannuation, which can later be withdrawn for the purpose of purchasing their first home. In this article, we will delve into…
-
How government policies may change superannuation in the next decade
Superannuation, also known as pension or retirement savings, is a crucial aspect of financial planning for individuals around the world. In Australia, superannuation is a key component of the retirement income system, with the government playing a significant role in shaping policies and regulations around it. As we look towards the next decade, it is…
-
Will Australia ever allow superannuation withdrawals for student loans?
Australia’s superannuation system is a pillar of the country’s retirement savings strategy. It is a mandatory contribution scheme where employers must contribute a percentage of their employees’ salaries to a superannuation fund. These funds are then invested to grow over time and provide financial security for individuals in their retirement years. However, there has been…
-
Super Funds Under Fire: ASIC’s Scathing Review Sparks Overhaul Demands
The Australian Securities and Investment Commission (ASIC) has recently conducted a comprehensive investigation into the handling of death benefit claims by various superannuation funds, revealing concerning practices within the industry. ASIC’s review highlighted significant delays, substandard customer service, and ineffective claims processing, negatively impacting Australians during vulnerable times. Over a two-year period, ASIC scrutinized 10…
-
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…
-
The rise of ethical investing in superannuation
Ethical investing in superannuation has been gaining significant traction in recent years as more and more investors are becoming conscious of the impact their money can have on society and the environment. Superannuation, also known as pension funds in some countries, is a crucial part of many people’s financial planning for retirement. With the rise…
-
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…