An outcomes test for superannuation funds has passed the Parliament, along with changes to Portfolio Holding Disclosure. The Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2019 passed the House of Representatives on the last sitting day before the election. The Bill had already… Read More »Superannuation outcomes test & holding disclosure pass Parliament
Improving Accountability and Member Outcomes in Superannuation
APRA has moved ahead of the Parliament in introducing an outcomes test for large superannuation funds.
APRA released a package of new and enhanced prudential requirements, which it says are designed to focus large super funds trustees on delivering quality outcomes for members.
APRA Deputy Chairman Helen Rowell said the regulator was committed to lifting standards in the superannuation industry, to the benefit of members.Read More »APRA moves ahead of Parliament on super fund outcomes test
Labor will oppose the Government’s superannuation governance and reporting changes, but may yet support an expansion of super fund choice to more employees. Labor says it will oppose two of the Government’s superannuation Bills, but may support a third if it is amended. The House of Representatives on Monday passed… Read More »Labor may yet support expansion of super fund choice
The superannuation industry has sharply criticised the Government’s proposed changes to improve accountability and outcomes for members in the superannuation system. The Government recently released draft legislation, which it says will “ensure a modern, vibrant superannuation system”, the Treasury Legislation Amendment (Improving Accountability and Member Outcomes in Superannuation) Bill 2017.… Read More »Super industry criticises Government outcomes & accountability measures
The Government has announced superannuation reforms aimed at giving consumers, and APRA, more power in the superannuation system. The Minister for Revenue and Financial Services, Kelly O’Dwyer, said the Government would introduce legislation to “give everyday Australians more power over their superannuation providers and strengthen the prudential framework to deliver… Read More »Government announces super reforms to give consumers more power