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Submission – Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019.

  • On 24/07/2019
This letter has been prepared in response to a call for submissions from the Senate Economic Legislation Committee regarding the Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019. Rice Warner supports the objectives of the package, and the already implemented changes in Protecting Your Superannuation (PYS), due to the importance of designing insurance that […]
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Putting Members Interests First Bill – will it work?

  • On 17/07/2019
As the industry still scrambles to embed the Protecting Your Super (PYS) package changes effective 1 July 2019, the Government has moved to reintroduce the Putting Members’ Interests First Bill (PMIF).  This new Bill is proposing further significant changes in making insurance opt-in for members under age 25 and members holding low-balance active accounts. Rice […]
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Maintaining living standards in retirement

  • On 11/06/2019
On Wednesday, 5 June 2019, ASIC announced[1] that it had amended the relief conditions for superannuation and retirement calculators.  Specifically, ASIC has removed the requirement that superannuation and retirement calculators discount at a fixed rate of CPI – 2.5% – and instead encourages providers of these tools to use a higher rate that allows for […]
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What is the right level of SG?

  • On 05/06/2019
Mandatory superannuation contributions have grown from the original 3% Award contributions of the 1980s to 9.5% and are legislated to get to 12% in 2025.  Yet, there has been little comprehensive analysis of the right level of Superannuation Guarantee (SG) contributions, nor any strategic work on the impact on the economy and member retirement outcomes.  […]
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