Improving Accountability & Member Outcomes in Super Measures No. 1 Bill 2017

Coverage of the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2017.

APRA uses new directions power, puts licence conditions, on AMP super

APRA has used its new directions power, and imposed additional licence conditions, on AMP super. APRA announced that it has issued directions and put new licence conditions on AMP Superannuation Limited and N.M Superannuation Proprietary Limited – which both make up AMP Super. The prudential regulator said it had done… Read More »APRA uses new directions power, puts licence conditions, on AMP super

Superannuation outcomes test & holding disclosure pass Parliament

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

Government seeks to implement two Royal Commission recommendations

The Government wishes to implement two recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry by amending some of its superannuation legislation in the Senate. The changes are being made to a Bill, the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures… Read More »Government seeks to implement two Royal Commission recommendations

APRA moves ahead of Parliament on super fund outcomes test

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

Government puts super fund governance & accountability Bills to Senate first

The Government has introduced Bills to enact its super fund governance and accountability policies to the Senate, before the House of Representatives, restarting a battle between industry and retail super fund. The Government introduced the Bills directly to the Senate, instead of to the House of Reps. Minister for Revenue… Read More »Government puts super fund governance & accountability Bills to Senate first