The $24 billion fund said its decision to move to open banking would provide its members with more security and speed around their online transactions.
While numerous superannuation funds, including AMP, managed to deliver double-digit returns in the last calendar year, AMP’s chief economist forecasts more tapered growth returns in 2024.
Super funds suffered the second-largest exodus of advisers last year amid the government’s decision to allow funds to expand their advisory powers.
A survey of over 2,200 consumers has highlighted the significant number of Australians seeking to pay for advice through their superannuation, as the government looks to clarify the legal basis for doing so.
Dr Raphael Arndt, the chief executive of the Future Fund, is against any revision to the fund’s mandate.
The Future Fund has surpassed its annual return target to reach a record value of $211.9 billion.
TAL has been selected to provide group life insurance for AMP Superannuation Fund members and has announced the appointment of a new chief claims officer.
An industry professional has cited institutional take-up of crypto as a tailwind for the asset class in 2024, although superannuation funds are on a seemingly slower track to adopt such allocations.
New research has found cost pressures are weakening Australians’ outlook for their golden years even as the superannuation industry grapples with the issue of longevity risk and retirement income.
A projected surge in internally managed super fund FUM will “transform” Australia’s investment management landscape, according to new research.