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Super wars

This Month

ASIC chairman Joe Longo. He says the superannuation system is not delivering for many members.

Big super is being put to the stress test

The sector is destined to become bigger than the $5.3 trillion banking system, but it’s unprepared for what happens when retirees draw down their balances.

  • Michael Stutchbury

October

Wayne Swan says the super sector’s infrastructure may not be fit for purpose.

Swan accuses Cbus critics of ‘raw politics’ and ‘deliberate damage’

The former treasurer said industry funds were under attack from critics jealous of their success.

  • Hannah Wootton
Forty-two self managed super funds have more than $100 million in assets and receive more than $140 million per year in tax concessions, sparking calls for the government to put a limit on how much superannuation a person can accumulate.

‘Tax-free to the children’: 42 super accounts worth more than $100m

The mega-SMSFs receive more than $140 million per year in tax breaks, sparking calls for the government to put a limit on superannuation balances.

  • Michael Read
Liberal politicians Jenny Ware, Maria Kovacic, Angie Bell and Bridget Archer.

Liberal MPs push to give single women early access to super

The MPs argue that some single and divorced women could be forced to rent forever and risk homelessness if they can’t access their superannuation early.

  • Michael Read
Stick to returns, Garry Weaven tells APRA.

Stick to super returns, don’t cave to ‘political interference’: Weaven

Garry Weaven says APRA shouldn’t give in to “bastardised political interference” in governance and performance testing of high-performing industry funds.

  • Hannah Wootton
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Industry super funds have given all Australians a bigger share in the economy.

Union and employer boards make industry funds so successful

Industry super funds achieve strong performances precisely because of the equal representation on their boards – not despite it.

  • Garry Weaven

August

Retirees and savers just starting should be at the forefront of super fund thinking.

Shouldn’t retirees be on super boards too?

Super funds have changed since the Cooper inquiry recommended more independent directors. Now, it might be a case of why stop there?

  • Jeremy Cooper and Ruth Stringer
IFM Investors CEO David Neal previously led Future Fund.

IFM Investors, ISPT shareholders agree terms for $240b merger

Property investor ISPT is ready to sign on the dotted line with IFM Investors after more than a year of negotiations.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

June

Superannuation investors are tinkering their income levels to avoid the ‘Division 293 tax’ where they can, a new study shows.

The super funds with the most million-dollar members

After losing ground to industry super funds since the Hayne royal commission, data shows retail funds are fighting back when it comes to attracting and retaining high-net-worth members.

  • Joanna Mather and Michelle Bowes

Eight ways to squeeze more into super – which ones are you using?

A couple employing just four of these methods could boost their retirement savings by almost $5 million.

  • Duncan Hughes
The debate over default pensions will be an important one in the next 12 months.

Why KKR’s Colonial First State calls default pension plan ‘dangerous’

Colonial First State chief executive Clive van Horen says the wealth and super giant is back in growth mode. But he’s not shying away from a big super debate. 

  • Updated
  • James Thomson

May

David Atkin is chief executive of the Principles for Responsible Investment, a UN-backed lobby for socially responsible investing.

‘Every country is worried about what’s happening in the US’

ESG champion David Atkin runs a global organisation with 5300 signatories that manage a total of $US121 trillion – about half of global funds under management.

  • Ben Potter

Boomer ‘wave’ of outflows starts to hit super

Australia’s biggest retail superannuation funds are paying out billions more dollars in cash than they are bringing in as baby boomers reach retirement age.

  • Updated
  • Hannah Wootton
Peter Costello says people should be entitled to tap their super to buy a home.

Costello backs Dutton on super for housing

Former treasurer Peter Costello has backed Opposition Leader Peter Dutton’s super for housing policy, saying members should be able to choose what happens to their money.

  • Updated
  • Gus McCubbing

March

Zali Steggall, Zoe Daniel, Allegra Spender and Kylea Tink have warned against Labor’s super reforms.

Teals brand Labor’s $3m policy a ‘cash grab’

Teal MPs say changes to taxation of super funds with balances larger than $3 million could drive investment away from start-ups and leave retirees worse off.

  • Hannah Wootton
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Treasurer Jim Chalmers is consulting on the superannuation performance test.

Time for super performance test facts and myth busting

The latest Treasury review should find what we already know: that the current test has delivered for members.

  • Karen Chester and Brad Ruting
Australians have focused on the accumulation phase of supperannuation.

Superannuation funds have quietly started paying retirement ‘bonuses’

Super funds are paying out millions of dollars in retirement “bonuses”. But what are they, and does your fund offer one?

  • Updated
  • Lucy Dean
Employment Hero CEO Ben Thompson is waging war against Hostplus.

Hostplus wants $2b start-up founder sacked, Airtree in the crossfire

Employment Hero founder Ben Thompson has published a letter sent by Hostplus concerning the start-up’s ongoing social media campaign against the super fund.

  • Tess Bennett, Lucy Dean and Nick Bonyhady
Experts have warned that any proposal to let first home buyers access their super needs to be coupled with significant efforts to boost housing supply.

First home buyers tapping super could drive up house prices

Experts have warned that any proposal to give first home buyers access to their superannuation needs to be coupled with significant efforts to boost housing.

  • Updated
  • Michael Read and Hannah Wootton

February

Misha Schubert will work with both sides of government to push for better support for workers approaching retirement.

Most Australians run out of super by the end of their lives: study

The research from a new industry super mega lobby group comes as the government considers how to make super funds better assist their customers in retirement.

  • Hannah Wootton

Original URL: https://www.afr.com/topic/superannuation-wars-1mr4