Tag: superannuation news

Australian Super, the largest superannuation fund in Australia, is facing legal action by the Australian Securities and Investments Commission (ASIC) over alleged delays in processing death benefit claims for thousands of members. ASIC has accused Australian Super of failing to handle these claims efficiently, honestly, and fairly over a period spanning from July 2019 to…

The superannuation industry is facing a critical juncture as it grapples with the challenges of meeting retirement demands. While establishing a super system for the accumulation phase has been relatively straightforward, the transition to supporting members in retirement poses significant hurdles that the industry is currently ill-prepared to address, according to experts in the field.…

In recent financial news, the impact of Trump’s policies has caused a downturn in superannuation returns, as reported by the Financial Newswire. SuperRatings, a leading research firm, highlighted the shift to negative returns following a challenging February. The data revealed a decrease of 0.8% in the median balanced investment option during the month, marking only…

The Australian Securities and Investments Commission (ASIC) has taken legal action against Australian Super, the country’s largest superannuation fund, for allegedly causing significant delays in processing death benefit claims for thousands of members. ASIC claims that between July 2019 and October 2024, Australian Super failed to handle nearly 7,000 death benefit claims promptly and fairly,…

A childcare provider, Genius Education, is under scrutiny for allegedly failing to pay its South Australian employees their entitled superannuation funds. The company, which has faced closure due to regulatory concerns, left staff like Rosa, a former educator at the Blair Athol center, feeling abandoned and financially strained. The abrupt closure of the center, marked…

In the realm of financial planning, one key aspect that individuals often focus on is superannuation. Superannuation, a system designed to help people save money for retirement, is a crucial element in securing one’s financial future. While superannuation is generally regarded as a tax-effective way to accumulate wealth for retirement due to its low-tax nature,…

In the realm of superannuation news, understanding the importance of diversifying your investment portfolio is crucial for optimizing your retirement savings strategy. While the superannuation system offers significant tax benefits and is globally recognized for its effectiveness, there are instances where allocating your wealth outside of superannuation can be advantageous. Diversification is a fundamental principle…

In recent news related to superannuation, AMP has reported robust double-digit returns for its MySuper superannuation fund options in the calendar year 2024. The AMP MySuper 1970s option, known for its high-growth asset allocation, achieved a noteworthy 15% return during this period. Members of AMP MySuper born in the 1980s and 1990s also experienced impressive…

In a recent speech at the AFR Super & Wealth Summit 2024, APRA Deputy Chair Margaret Cole highlighted the critical role of superannuation in the financial wellbeing of Australia’s economy. With $3.9 trillion in assets under management, the super industry shoulders the responsibility of safeguarding the retirement savings of millions of Australians. However, concerns have…

In the realm of superannuation news, the impact of Trump’s presidency on retirement finances has been a topic of concern for many. The financial markets have experienced significant fluctuations since Trump assumed office, with billions lost one day and record highs reached the next. This market volatility, as indicated by the VIX index measuring fear…