Rice Warner’s submission to the Productivity Commission: Superannuation – Alternative Default Models

On 07/05/2017

The purpose of Stage 2 is to identify an alternate default model that will then be compared against the current system in Stage 3 of the Inquiry. We recognise that there are inefficiencies in the current superannuation system. However, we make no assertion that the best of the Commission models selected by us in this […]

Superannuation Fees – how low can we go?

On 04/05/2017

Target of 1% is nearly in sight Back in 2003, the then Labor spokesman on retirement savings, Nick Sherry, suggested that superannuation fees be capped at 1% of assets. He realised that a small reduction in fees could have a profound impact on retirement benefits. This message has been formalised in all superannuation Product Disclosure […]

Australia’s Big Bets on Property

On 19/04/2017

Despite a backdrop of socioeconomic uncertainty and increased financial market volatility, growth in the personal savings of Australians remains strong. As of 30 June 2016, total personal investments stood at $2.3 trillion, representing an even larger pool of savings than the superannuation system. However, Australian households are increasingly exposed to significant concentration risk from their […]

Will employer insurance arrangements cause superannuation concessional caps to be breached?

On 12/04/2017

On 1 July 2017, the maximum concessional contribution cap is reducing to $25,000 per annum. Currently employers can make annual deductible contributions of up to $35,000 for employees aged 49 or more on 30 June of the previous financial year and $30,000 for younger employees. What makes up a concessional contribution? Superannuation Guarantee Contribution Additional […]

Why we need Super Fund Mergers

On 06/04/2017

The Productivity Commission’s draft report on Alternative Default Models has recommended a new system of allocating new entrants to the superannuation system. It has suggested we consider a new model for placing new members, mainly young people, entering the workforce. It lists four models to consider and has asked for feedback. The initial reaction from […]

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