Featured Image

The Role of Insurance in Superannuation

  • On 09/08/2017
When industrial superannuation was built into a wide range of industrial awards 30 years ago, the initial employer contribution was 3% of wages. All funds provided life insurance and most had a flat premium for members of $1 a week, with benefits declining by age in line with the underlying increase in risks. Over the […]
Read More
Featured Image

Comprehensive Income Products for Retirement (CIPRs)

  • On 14/07/2017
Comprehensive Income Products for Retirement (CIPRs) were recommended by the Financial System Inquiry as a means of helping retirees to manage their longevity risk and to be able to draw higher pension income each year.  Treasury issued a Discussion Paper and most of the key participants in the superannuation industry have responded with submissions.  This […]
Read More
Featured Image

Submission to Department of Treasury: Development of the framework for CIPRs

  • On 12/07/2017
This report has been prepared in response to a call for submissions from the Department of Treasury as part of its consultative process into the Development of the Framework for Comprehensive Income Products for Retirement (CIPRs). We have reviewed the purpose of CIPRs. We have then considered how best to develop these products to meet […]
Read More
Featured Image

Governance of mortgage brokers

  • On 29/06/2017
Background The ASIC Review of Mortgage Broker Remuneration was released in March 2017. Submissions regarding its findings and recommendations are due this week. This comprehensive review revealed much about the operation of the mortgage market and documented a number of worrisome features. The mortgage market Approved Deposit-taking Institutions (ADIs) – banks, building societies and credit […]
Read More
Featured Image

Superannuation – the next decade

  • On 22/06/2017
Society has benefited from the technology revolution of the last 30 years. A separate revolution has taken place in superannuation with the industry shifting from transactions to services around member engagement. While the changes in both areas have been profound, we can anticipate the next decade being even more dynamic. At this week’s Canberra Summit […]
Read More