Mercer has retained a key superannuation administration mandate – that of industry fund, Media Super.
Media Super is understood to have opted to continue with Mercer as its administrator following a review of its requirements and a receipt of expressions of interest.
It is understood the renewed mandate has been extended to include the Mercer Multi-Manager Funds within Media Super’s International Share investments, valued at $1.25 billion.
Australian retirees could increase their projected annual incomes between 3 and 51 per cent by incorporating personal and household data into their retirement income strategies, according to new research.
The best interests duty and new class of adviser didn't make the cut for the pre-election DBFO draft bill; however, ASFA has used its submission to outline what it wants to see from the final package.
The peak body stressed that the proposed financial advice reforms should “pass as soon as possible” and has thrown its weight behind super funds providing a greater level of advice.
Economists from the big four banks have all predicted the RBA to deliver another rate cut during its July meeting; however, some admit the decision will be a close call.