Class action against Westpac filed, third of Get Your Super Back campaign

Law firm Slater and Gordon has filed a class action against two Westpac subsidiaries on “behalf of thousands of superannuation members who were shortchanged by the bank’s super funds”. The Westpac subsidiaries are BT Funds Management Limited and Westpac Life Insurance Services Limited. This is the third class action in… Read More »Class action against Westpac filed, third of Get Your Super Back campaign

Labor wants Salary Sacrifice SG ‘loophole’ closed retrospectively

Labor is in favour of closing a Salary Sacrifice ‘loophole’ retrospectively from 1 July 2019, though it is unclear if this will be legislated. A Bill is currently before the Parliament which would, amongst other measures, stop employers from being able to count the Salary Sacrifice contributions of their employees… Read More »Labor wants Salary Sacrifice SG ‘loophole’ closed retrospectively

FASEA transition extension supported by professional bodies

The Government’s decision to extend two FASEA transition deadlines has been welcomed by professional bodies. Jane Hume, the Assistant Minister for Superannuation, Financial Services and Financial Technology, announced an extension for the transition to the Financial Adviser Standards and Ethics Authority (FASEA). Under the extension, advisers who were registered on… Read More »FASEA transition extension supported by professional bodies

Industry Super launches new ‘the only thing to look for’ campaign

Industry Super Australia has launched a new campaign, encouraging consumers to look for the “iconic” industry super fund symbol. The campaign is aimed at increasing the reliance on, and confidence in, the industry super fund symbol when choosing a super fund, according to a statement by Industry Super Australia. This… Read More »Industry Super launches new ‘the only thing to look for’ campaign