Using retirement money to solve today’s problems

  • On 27/03/2020
Fixing short-term cash flow The impact of COVID-19 has turned the world upside down.  In economic terms, the impact was first marked by a rapid and large fall in global share markets.  The bellwether Dow Jones Index dropped by 37% over 40 days to 23 March, not only ending a lengthy bull market but foreshadowing […]

All talk but little action

  • On 06/03/2020
International Women’s Day is on Sunday 8 March, and it is worthwhile reflecting on the progress made by women in building their superannuation accounts. We all know the reasons for females retiring with lower income than males: Lifecycle events – including bearing and raising children, and supporting aged parents later in their careers. Barriers – […]

Does mandatory superannuation add to National Savings?

  • On 02/03/2020
The current Retirement Income Review has generated more news about superannuation.  In the perennial debate about the virtues of our mandatory superannuation system, some commentators have questioned whether the Superannuation Guarantee (SG) regime increases Australia’s national savings, or simply cannibalises existing savings. The debate lies in two parts – do people save more of their […]

The weakness of product disclosure

  • On 30/01/2020
Last year, Karen Chester, the Australian Securities and Investments Commission (ASIC) Deputy Chair, released a report compiled jointly by ASIC and the Dutch Authority for Financial Markets.  She used the opportunity to challenge the financial markets about whether disclosure on documentation was working efficiently for consumers, stating: “Disclosure can and has backfired in unexpected and […]

The clock is ticking for Putting Members’ Interest First

  • On 17/01/2020
The Treasury Laws Amendment Putting Members’ Interests First (PMIF) Act 2019 will be coming into effect from 1 April 2020. Two new considerations for trustees resulting from PMIF are whether to adopt the exemption for ‘dangerous occupations’ and the terms for switching on default cover for members who are ineligible when they first join a […]
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