The age-old debate about the validity of commission payments

  • On 21/02/2019
The purpose of commission Many industries pay commission to distributors of products.  Manufacturers benefit from the variable cost – no sale, no payment – which can be built into the product’s price.  Sales people also like commission as their income is not capped, and good ones can earn high levels of income. One of the […]

Productivity Commission parts company with the evidence

  • On 24/01/2019
The end of yet another superannuation inquiry The Productivity Commission (PC) has just finished a three-year comprehensive analysis of the superannuation industry.  It issued its final report to Government (and the Royal Commission into Misconduct in the Banking, Financial Services and Superannuation Industry) in late December and the report became public on 10 January 2019. Advance copies […]

Budget 2016 – Simply Super?

  • On 05/05/2016
Superannuation is a central part of Treasurer Morrison’s first Budget. The cunningly crafted changes retain the attractiveness of superannuation as the preferred savings vehicle for retirement whilst making the system far more equitable.  There is an improvement in simplicity in some areas. About 4% of Australians will be worse off through the changes. Collectively, the […]

The Financial System Inquiry – Where next for superannuation funds?

  • On 09/12/2014
The final report of the Financial System Inquiry (FSI) was released on Sunday 7 December. The report is critical of the superannuation industry and makes some telling recommendations for change. The government appears to be pleased with the contents of the FSI final report, but not all suggestions will receive bipartisan political support. We discuss […]

Joint Superannuation Accounts

  • On 16/04/2014
Australian families usually pool their finances and have joint bank accounts for running the household. When we retire, most of us will receive a full or part Age Pension and the benefit will be based on our marital status. Yet, when Australian families save for their retirement, they are required to have separate superannuation accounts. […]
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