News

‘Dirty dozen’ of Coalition MPs trying to blow up super system: Labor

A Labor shadow Minister has claimed there is a ‘dirty dozen’ of Coalition MPs with the mission of “blowing up” the superannuation system. The “plot of these conspirators was undisclosed” during the election campaign, Stephen Jones, Labor’s Shadow Assistant Treasurer and Shadow Minister for Financial Services told the Financial Services… Read More »‘Dirty dozen’ of Coalition MPs trying to blow up super system: Labor

Minister criticises super funds for not taking action, amid policy go-slow

The Minister responsible for superannuation has criticised the industry for “complacency and inertia”, while Government policies remain unenacted and serious reports languish without a response. The superannuation industry is “beset with complacency and inertia”, said Jane Hume, Assistant Minister for Superannuation, Financial Services and Financial Technology, in an speech to… Read More »Minister criticises super funds for not taking action, amid policy go-slow

Government’s have supercharged wealth of older Australians, and generational wealth gap

Government policies have “supercharged” a growing generational wealth gap – with tax concessions on housing and superannuation for older Australians, while the costs are borne by younger people – finds the Grattan Institute, which has released new research. Household wealth has increased dramatically over the last 30 years – up… Read More »Government’s have supercharged wealth of older Australians, and generational wealth gap

Those already advised significantly more interested in super advice

People who have already received financial advice are significantly more interested in getting advice on a range of topics – including superannuation. ASIC has released the findings of research into what consumers think about financial advice. One of the findings is that people who have already received advice are more… Read More »Those already advised significantly more interested in super advice

Salary Sacrifice change not enough to stop superannuation “robbery”

Stopping employers ripping off workers by using Salary Sacrifice contributions to satisfy their Super Guarantee obligations is a welcome change, but doesn’t go far enough, says Industry Super Australia. A Senate Committee is currently inquiring into a Bill which would, in part, stop employers counting the Salary Sacrifice contributions of… Read More »Salary Sacrifice change not enough to stop superannuation “robbery”

No timetable for key Banking Royal Commission superannuation recommendation

The Government has no timetable for implementing a key superannuation recommendation of the Financial Services Royal Commission, despite agreeing with it and setting out a roadmap for other recommendations. The Government has released an ‘Implementation Roadmap’ for the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and… Read More »No timetable for key Banking Royal Commission superannuation recommendation