This Month
Market rout exposes risks to SMSFs from Labor’s superannuation tax
The plunge in shares has exposed how around 80,000 self-funded retirees with large balances could suffer unrecoverable losses if the proposed levy is enacted.
March
Insignia cops the biggest losses as retirement savers move to rivals
Some $74 billion in superannuation switched providers last year, new research shows, much of it headed to industry funds and self-managed wealth platforms.
Super fund failures could cost you big
ASIC’s assault on big super’s failings points to a new phase that will determine whether the big industry funds are best placed to help retirees spend it.
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
Big super goes all-in on Trump’s economic agenda
The super machine started by Paul Keating is set to bet more of Australian workers’ retirement incomes on Trump’s low-tax, smaller-government plan.
Industry super pushes Labor to add under-18s to retirement pool
Superannuation funds say an extra $370 million would flow into pension savings every year if a decades-old exemption for most younger workers was closed.
Relax, here’s why you don’t need that much super
While surveys show fear of retirement is the top source of stress for workers, retirees themselves are among the most financially secure cohorts in the country.
January
Warning to big super: fix customer service, or we’ll see you in court
Labor’s plan to force superannuation funds to meet minimum standards will add fuel to regulators Margaret Cole and Simone Constant’s 2025 ambitions.
How 750,000 retirees are missing out on $850 a year
They are exposed to more than $635 million in extra tax annually due to confusing and ill-fitting laws that cover superannuation, Mercer says.
‘Smears and lies’: Spender blasts claim she wants to raise taxes
The teal MP has called for truth in political advertising laws after a new right-wing campaign group, Australians for Prosperity, paid for ads saying she wants to lift taxes.
December 2024
Deloitte gave industry super governance a big tick
The report into Cbus’ fit and proper processes dispels assertions that the equal representative model is a barrier to funds getting the skills and expertise needed to govern these large financial institutions.
Cbus’ Swan has ‘serious questions’ to answer: Coalition
Fundamental transparency and accountability failings at the industry super fund may yet claim the scalp of its chairman.
Labor unveils plan for army of advisers to help Baby Boomers
Labor will attempt to re-write financial advice laws to relax the regulatory requirements that have made advice prohibitively expensive for many.
‘Failings’ in Cbus’ best financial interests duty: Deloitte
The independent review has slammed the Cbus board’s lack of compliance with the best financial interests duty test.
Super sector’s problems are much bigger than Cbus
The damning review of governance at CBUS shows while industry funds have led the way in gathering and growing assets, they now need to play governance catch-up.
November 2024
Unlisted assets mask awkward questions about super governance
We need to be sure that on valuations, trustees are not conducting some tick-a-box exercise and playing with the retirement savings of members.
Big Super’s reckoning has arrived
After 32 years of guaranteed inflows from workers and scant scrutiny, the $3.9 trillion industry faces customer fury over service, unclear investment practices and questionable governance.
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.
October 2024
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.
‘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.