Today
ASIC reads big super the riot act on death insurance, savings payouts
A review of how funds process insurance and savings payments to the families of dead members found excessive delays and serious customer service failings.
This Month
Super’s global push is threatening the Aussie dollar
The country’s largest funds are investing about $5.4 billion overseas every three months, according to Deutsche Bank, potentially driving the Aussie dollar lower.
Foreign investors banned: What else is in it for you
From a ban on foreign investors buying existing houses to pork-barrelling road projects in marginal electorates, here’s a sector breakdown of the budget.
Why you should be paying more in superannuation fees
Incentives to put downward pressure on fees have worked, but funds now have little left over to invest in services.
CBA lures back mortgage brokers with $270k offers
More mortgage brokers are joining CBA since Australia’s largest bank controversially lifted royal commission-era bonus caps.
Eighteen funds to control $1trn in retirement savings by 2049: Mercer
Industry superannuation is rapidly consolidating as funds compete more aggressively for members and create increasingly sophisticated investment teams.
CBA, NAB chief executives prepare for long-term Trump disruptions
Matt Comyn and Andrew Irvine offer a view of an uncertain environment where upheaval could create big productivity gains – or cause serious harm.
Slash stamp duty to encourage retirees to downsize: ING
The bank’s local chief executive, Mel Evans, said shorter-term solutions to housing affordability were needed until more new properties hit the market.
NAB’s $230b business bank crown jewel faces its biggest test yet
Even on the day he was named as the bank’s chief executive, Andrew Irvine knew the barbarians were at the gate. Thirteen months later, they are over the wall.
CareSuper signs merger deal, taking its retirement funds past AMP
The agreement to merge with a meat industry fund comes month after it combined with Spirit Super and became one of the biggest super managers in the country.
Industry funds lobby for death benefits overhaul
ART, UniSuper and Cbus want the government to reform processes as the corporate watchdog prepares to release a report revealing widespread failures.
Big super thinks being fined for bad customer service is too harsh
Australian Securities and Investments Commission deputy chairman Sarah Court says it’s a bit rich for superannuation funds to not expect legal action if they misbehave.
Silk, directors singled out in AusSuper death benefits failure
As ASIC chairman Joe Longo called big super the “poster child” for governance failures, the watchdog launched a case in the Federal Court against the biggest provider.
The country’s big super funds are reaching their ASX investing limit
AustralianSuper expects to hit an effective cap on how much it can invest in the local market and make good returns. Its peers are also looking overseas.
Brookfield drops out of boosted $3.4b Insignia bidding war
But other prospective bidders, Bain Capital and CC Capital, have lobbed higher $5-per-share offers for the near 180-year-old institution once known as IOOF.
Bank, super boards the target of APRA’s new director rules
The lobby group for company directors described some of the proposals, which include limits on tenure and more oversight in succession planning, “overreach”.
AustralianSuper’s Schroder has a productivity fix: Build, baby, build
The chief executive of the country’s largest superannuation fund says too much capital is tied up as he urged more housing development.
Sydney to host return leg of Australian global super summit
The summit spruiking bilateral investment will return later in 2025, with Sydney to play host to super chiefs and US investors
Retail super funds revolt as ASIC goes soft on AustralianSuper
The chief executives of AMP and Insignia, which runs MLC and IOOF, have criticised a lower fine for the not-for-profit industry superannuation giant.
February
Chalmers and super chiefs talk tariffs with Bessent in Washington
Jim Chalmers sat alone in the front row and listened attentively as his US contemporary clarified an important point about Donald Trump’s favourite word.