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Impact of cleaning up multiple accounts

  • On 11/03/2019
Most young superannuation members do not actively engage with their fund until their balances become meaningful.  Passively, they let their Superannuation Guarantee (SG) contributions be paid to the default fund selected by their employer.  As a result, when they change jobs, they often leave their old benefit behind.  Over time, they collect membership in multiple […]
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A focus on positive member outcomes

  • On 08/02/2019
2018 was a challenging year for the Australian superannuation sector.  There have been ongoing delays in implementing the Protecting Your Super Package (PYSP) from the Federal Budget and much anticipation over the release of the Productivity Commission and Royal Commission Reports. Prolonged uncertainty in the country’s leadership provided little guidance on the future. In contrast […]
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Shifting the focus from Budget to Code

  • On 15/01/2019
It was a tense time for the superannuation industry as the Senate approached its final sitting week of 2018.  We all waited to find out whether the Protecting Your Superannuation package (PYSP) legislation would pass and if so, with what amendments. The announcement of the legislation at the May Federal Budget had been a surprise […]
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Retirement won’t wait

  • On 04/12/2018
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 […]
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Should the Superannuation Guarantee move to 12%?

  • On 13/11/2018
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.  […]
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