Class has introduced a bulk pension commutation tool ahead of the superannuation reforms set to come into play on July 1, which will have significant impacts for self-managed super fund (SMSF) administrators and accountants.
The bulk computation had been designed to assist with quick and easy commutation of pensions to the accumulation phase, and assist SMSF-holders affected by the $1.6 million transfer balance cap.
Class chief executive, Kevin Bungard, said the pre-processed documentation and automatic distribution of funds across pensions would be a positive step forwards.
“[It’s] automating the tedious and time consuming parts of complying with the super reforms,” he said.
As part of super-reform related offerings, Class would also launch a capital gains tax (CGT) relief report for proportionate funds to determine qualifiers for CGT relief under the cap, as well as a new member console filter.
The $170 billion fund has announced an internal promotion to the newly created role.
Blue Owl Capital, a US asset manager with its eye on ‘marquee investors’ like super funds, has announced the appointment of a senior Future Fund executive as its newest managing director.
The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months.
The Association of Superannuation Funds of Australia has tapped an experienced public policy executive as head of policy and advocacy.
Add new comment