In the media
Super funds look to technology for data
MEDIA – 11 October 2013 – Superannuation funds that have been preoccupied with various regulatory changes and developing MySuper products have left it late to upgrade their data reporting capabilities and are now looking for technology solutions to help them get up to speed quickly. More...
NSW Government to reconsider Pillar
MEDIA – 11 October 2013 – The NSW Government is considering the sale of state-owned superannuation member administrator Pillar Administration after a period of poor financial performance. Pillar posted net losses of $2.2 million for the 2011-12 financial year and appears to have hit an impasse in its attempt to reverse this trend. More...
Litigation funder in capital raising
MEDIA – 11 October 2013 – Australia's biggest litigation funder, IMF, is raising money amid expectations the government will review the sector. IMF, which has just raised $31 million and is seeking to raise a further $10 million to help fund overseas expansion, said its clients included retail investors, self-managed super funds, institutions and large industry super funds. More...
Advice key for defined contributions plans
MEDIA – 09 October 2013 – A global survey into the behaviours of retirees receiving benefits from defined contribution (DC) plans has found the provision of financial advice is needed more than ever before. The “Melbourne Mercer Global Pension Index” found most retirees who benefited from DC plans had been faced with risks that had not been experienced by the previous generation of retirees. More...
Removing the seven impediments to
retirement income stream products
ASFA –09 October 2013 – The Association of Superannuation Funds of Australia (ASFA) today called on the Government to address the regulatory impediments to retirement income-stream products, to ensure all Australians have adequate income to fund the lifestyle they want in all of their post-work years. More...
LGS enhances ESG credentials with Green
MEDIA – 09 October 2013 – Local Government Super (LGS) has said it has become the first Australian superannuation fund to invest in the European Bank for Reconstruction and Development's (EBRD) $250 million Green Bond. More...
Government urged to act on infrastructure
MEDIA – 08 October 2013 – Former Federal Treasury Secretary Ken Henry has joined with superannuation executives in calling for an approach by Government which encourages investment in infrastructure. More...
Financial inquiry starts to take shape
MEDIA – 07 October 2013 – The new Coalition government is gearing up for its promised financial system inquiry, with the make-up of the review panel and initial scope of the inquiry expected to be finalised before Christmas. More...
Infrastructure and super is a global conversation
ASFA – 04 October 2013 – A global dialogue about the role of superannuation investing in infrastructure projects is essential to help deliver better outcomes for funds and their members. This was the key message at the ASFA Investment Interchange held in Wollongong. More...
Trustworthy advice a super priority: ISA
MEDIA – 04 October 2013 – The provision of trustworthy financial advice and member savings are the top two policies Australia’s $1.6 trillion superannuation system needed to prioritise, according to the newly rebranded Industry Super Network (ISN). More...
Super bodies question ASIC education
MEDIA – 03 October 2013 – Industry Super Australia (ISA) and Australian Institute of Superannuation Trustees (AIST) have stated that the move to degree-level qualifications should not go through any interim measures but rather make the switch in one movement - and questioned the relationship of a standards exam to the new proposed standards. More...
ISN changes name
MEDIA – 03 October 2013 – The Industry Super Network (ISN) has changed its name to Industry Super Australia (ISA), with chief executive David Whiteley saying the change reflected the growing role of industry superannuation in the nation’s economy. More...
Don’t over-complicate superannuation
MEDIA – 03 October 2013 – Superannuation funds should be permitted to 'bundle' consent by their members to provide information covered by the Privacy Act, according to the Association of Superannuation Funds of Australia (ASFA). More...
Launch of Industry Super Australia’s Policy
Speech: Honourable Peter Collins AM QC, Chair of Industry Super Australia at the Launch of ISA’s Policy Platform, 3 October 2013.
Now is the time for us to look over the horizon – Wallis 2, a new Government at our size relative to the banks, and whether superannuation is just seen as some sort of adjunct to banking. More...
A reform agenda to address impediments to
super fund investment in infrastructure
Author: Gordon Noble, Director Investments and Economy, ASFA.
ASFA believes that of all the areas where superannuation funds invest, infrastructure is unique because of the involvement of government and stakeholders (30 September 2013). More...
AUSTRAC – Proposals for enhanced customer
The Financial Action Task Force (FATF) released revised standards in February 2012. Seven deficiencies were identified in response to the revised standards by the Government. This discussion paper considers potential reforms to address these deficiencies (30 September 2013).
Consultation Paper CP 215 proposes amendments to RG 146 which will see the old ASIC Training Register archived and replaced with standards for certification for use by RTOs and self-accrediting organisations (SAOs). The Consultation Paper also provides Class Order relief for AFS licensees (30 September 2013).
Superannuation Insurance Symposium 2013
AIST's Super Insurance Symposium (SIS) will cover the important issues in relevant to group insurance, case law, insurance design and regulator updates to provide superannuation personnel the most current information and case studies to improve their internal insurance practices.
Date: 23 October 2013.
Fund Governance Symposium 2013
The FGS will cover the crucial issues in fund governance and works to place trustee directors and senior superannuation personnel in the best position to review and refine current governance practices and frameworks.
Date: 22 October 2013.
ASFA 2013 Conference
The ASFA 2013 National Confernece and Super EXPO will be held at the Perth Convention and Exhibition Centre.
Date: 13-15 November 2013.
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.