Australia’s two largest superannuation funds have welcomed today’s Quality of Advice Review announcement in a joint statement, stating the recommendations are a “positive step forward”.
The Government has accepted some 14 of the 22 recommendations in the Quality of Advice Review, allowing super funds to provide more retirement advice and information to their members.
The Association of Superannuation Funds Australia has welcomed the government’s formal response to the Quality of Advice Review.
SMSFs are increasingly allocating their funds into cash and cash products as economic headwinds impact the share market according to the latest Vanguard Investment Trends report.
Three female superannuation executives have been recognised in the King’s Birthdays Honours this year.
With SuperRatings estimating a 0.2 per cent loss on the median balanced option in May, inflation and tightening monetary policy have continued to affect super fund returns.
The superannuation fund has met its initial climate target of a 33 per cent reduction in normalised portfolio emissions by 2030, eight years ahead of schedule.
The $240 billion fund has appointed a new chief member officer; chief of staff; and executive general manager for advice, guidance, and education.
Two of Australia’s largest super funds have frozen new contracts with PwC, while others have told Super Review they are undertaking reviews of their consultancy relationships.
AMP is selling its SuperConcepts self-managed superannuation fund (SMSF) admin and software business.