Retirement won’t wait

  • On December 4, 2018
The Federal Government has announced that it will delay the implementation of the Retirement Income Framework (RIF) and Comprehensive Income Products for Retirement (CIPR) legislation. Practically speaking this means that superannuation funds will not be required to offer a CIPR product as of July 2020 but instead will be given time until July 2022.  However, by July […]

Bridging the gap for advice

  • On November 22, 2018
The Royal Commission’s interim report was highly critical of the delivery of financial advice.  One question raised in its interim report relates to the remuneration of financial advisers: “Should any part of the remuneration of financial advisers be dependent on value or volume of sales?”¹ Grandfathered commissions and asset-based fees for providing advice are common […]

Should the Superannuation Guarantee move to 12%?

  • On November 13, 2018
Another publicity-grab for Grattan In November 2018, the Grattan Institute released its latest report “Money in retirement: More than enough”.  This is another in a series of Grattan reports attacking the foundations of the superannuation industry.  It has modelled that the average Australian will have retirement income of at least 91% of their pre-retirement income.  […]

Fiscal Impacts of Removing Insurance in Superannuation

  • On October 30, 2018
Insurance in superannuation – balancing fiscal costs with social benefits The Productivity Commission (PC) released its draft report assessing the efficiency and competition in the Superannuation Industry in May 2018.  This report included recommendations to improve the provision of insurance through superannuation and some of these were similar to changes announced by the Government at […]

Retail Insurance Indexed Cover can seriously damage your wealth

  • On October 3, 2018
Over the last decade, we have seen significant change in the Retail Life insurance industry.  Life companies and some specialist providers continue to strive for greater value and appeal to customers in a highly competitive market. In the Group Life insurance industry, Trustees of superannuation funds have obligations to consider the affordability of any default […]
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