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The death of poor life insurance practices

  • On 13/10/2016
The life insurance industry has become the centre of a number of investigations which are painful for participants but will lead to changes which will modernise it. Commission The first investigation was ASIC’s Review of Retail Life Insurance in late 2014. This was highly critical of the quality of financial advice provided to retail clients […]
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Understanding member behaviour

  • On 05/10/2016
There is currently no means to measure the quality of decisions by superannuation fund members. This is despite most members being able to choose their superannuation fund and their investment strategies. As Rice Warner states in its recent submission to the Productivity Commission’s draft report, How to Assess the Competitiveness and Efficiency of the Superannuation […]
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Productivity Commission – Four different groups of superannuants

  • On 28/09/2016
The Productivity Commission’s investigation into competitiveness and efficiency in the superannuation industry intends to take a ‘whole of market’ view when assessing the industry on a number of efficiency measures. However, we note that although this view of the market may be useful the market itself is not homogenous. It is important to consider the […]
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Underpinning superannuation growth

  • On 22/09/2016
Rising employer contributions, which currently make up almost 80% of total annual contributions, will continue to underpin the strong long-term growth of superannuation assets. APRA statistics for the past 10 years show the steady growth of employer contributions and the widening of the considerable gap between employer and personal contributions. By contrast, non-concessional contributions have […]
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Winding back a decade of generosity

  • On 16/09/2016
After months of backlash from the wealthy and Abbott’s media friends, and frequent point-scoring from Labor, the Coalition government has finally conceded and changed its package of superannuation reforms. In particular, it has removed its proposed lifetime cap of $500,000 on non-concessional contributions, which was backdated to 2007. Widely seen as the most controversial of […]
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