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Default consolidates as Choice proliferates

  • On 09/11/2017
It is common to read media commentary about the need for consolidation of superannuation funds.  Yet there has been significant consolidation over the last 25 years.  Various catalysts have driven decisions for funds to wind up, including the SIS Act (1993), Choice of Fund (2005), APRA licensing (RSE) of superannuation funds (2013) and the MySuper […]
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Retirement adequacy for traditional, male and female couples

  • On 17/10/2017
Most married Australians share a common bank account but only a minority share a common superannuation fund.  The exception is the SMSF sector where more than 80% of funds have been set up for married couples.  Rice Warner believes Joint Superannuation Accounts for married couples make sense and we have promoted the idea for many […]
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How much choice is too much choice?

  • On 05/10/2017
The 21st century has seen a significant push toward consumer convenience.  Gone are the days where employers were required to mail a handwritten cheque to contribute to their employees’ super.  Today, technology allows us to communicate electronically in many ways and to give an ever-increasing amount of choice – of fund, of insurance and of […]
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Insurance Code – a win for members, but check the fine print

  • On 27/09/2017
Last week, the Insurance in Superannuation Working Group (ISWG) released a Draft Code of Practice for Insurance in Superannuation which is intended to be binding on all APRA Approved Superannuation Funds.   This Code is a positive step for the industry which has suffered much condemnation over recent years. It addresses a wide range of concerns, […]
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Benchmarking the industry – investment performance

  • On 21/09/2017
Submissions to the Productivity Commission’s (Commission) issues paper for the third stage of its enquiry ‘Assessing Competitiveness and Efficiency’ closed in August 2017 and the Commission is now starting the process of measuring the industry against the stated efficiency metrics, produced in its first-round report. The Commission’s brief was extended by the Minister on 30 […]
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