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Friday, 13 August 2010
The election will soon be over and thoughts will turn to what will be the regulatory reform agenda of the next government. Big mistake.
Whatever ... Read more
Latest Superannuation Management News
Friday, 3 September 2010
Friday, 3 September 2010
Thursday, 2 September 2010
Wednesday, 1 September 2010
Featured Paper
Superannuation has become one of the most important assets to be taken into consideration as part of a client's estate planning arrangements. This article examines the ways in which superannuation ... Read moreSuperannuation has become one of the most important assets to be taken into consideration as part of a client's estate planning arrangements. This article examines the ways in which superannuation can be dealt with in the event of the death of a member, including the restrictions as to whom and how the funds can be paid. The paper also considers the taxation consequences of the payment of superannuation entitlements. Kate McQueeny and Angela Cornford-Scott of deGroots Lawyers work through considerations in how best to ensure a client's superannuation entitlements pass to their intended beneficiary in accordance with their wishes. The article also examines some of the difficulties that can be encountered when dealing with self managed superannuation funds, particularly in relation to who assumes control of that fund in the event of the death of the member and the problems highlighted in the case of Katz v Grossman in this regard.
Marketing and Management
The aim of this qualitative study was to explore the intentions of employees working within the Australian higher education sector towards the retirement transition process. Work and non-work variables ... Read moreThe aim of this qualitative study was to explore the intentions of employees working within the Australian higher education sector towards the retirement transition process. Work and non-work variables associated with retirement transition were explored within the context of Atchely's (1989) continuity theory. The findings suggest research participants experience a strong association between their job role and their sense of self-esteem and personal value, which is consistent with continuity theory. It is suggested that bridge employment may be useful in facilitating the adjustment to retirement and is also a way for universities to resolve staffing issues associated with retiring older workers. The implication of facilitating retirement decision-making through the provision of targeted education programs is also discussed.
Intuitively the answer to this question would appear to be yes as unlike many other countries around the world, Australia operates a mandatory retirement savings scheme called the Superannuation Guarantee ... Read moreIntuitively the answer to this question would appear to be yes as unlike many other countries around the world, Australia operates a mandatory retirement savings scheme called the Superannuation Guarantee (SG). As a result, Australia is in a better position than many. However, does the SG give rise to false confidence?
Administration, Policy and Governance
You can almost hear the collective sigh of relief as 2009 draws to a close. After surviving the near collapse of the global banking system in 2008, this year has seen unprecedented scrutiny of all aspects ... Read moreYou can almost hear the collective sigh of relief as 2009 draws to a close. After surviving the near collapse of the global banking system in 2008, this year has seen unprecedented scrutiny of all aspects of the financial services industry. With several federal government reviews evaluating Australia's retirement income system, the superannuation industry faces inevitable change in the years ahead.
The Henry review presents a once-in-a-generation opportunity to reform Australia's tax and transfer system to meet the challenges of the future. With an aging population it is essential Australia has an ... Read moreThe Henry review presents a once-in-a-generation opportunity to reform Australia's tax and transfer system to meet the challenges of the future. With an aging population it is essential Australia has an equitable and efficient retirement income system that allows individuals to enjoy a decent standard of living in retirement. Australia's tax and transfer system is integrally linked to our superannuation system by influencing incentives to save and determining final retirement income outcomes.
The Ideal Fund - Reengineering the fund value proposition, June 2009 is research from PricewaterhouseCoopers Luxembourg and Caceis Investor Services. It is based on the Undertakings for Collective Investments ... Read moreThe Ideal Fund - Reengineering the fund value proposition, June 2009 is research from PricewaterhouseCoopers Luxembourg and Caceis Investor Services. It is based on the Undertakings for Collective Investments in Transferable Securities (UCITS) framework which covers mutual funds in the European Union (EU) and is designed to stimulate debate and serve as a catalyst to drive positive change in the long-term investment industry in the EU.
On 13 May 2008, the Australian Government announced a comprehensive review of Australia's taxation system, to be chaired by Dr Ken Henry, commonly referred to as the Henry Review. The final report is due ... Read moreOn 13 May 2008, the Australian Government announced a comprehensive review of Australia's taxation system, to be chaired by Dr Ken Henry, commonly referred to as the Henry Review. The final report is due for delivery in December 2009, and together with the Harmer review, represents a significant assessment of retirement income policy.
The existing superannuation system is built on a contradictory notion of the way people make financial decisions. On the one hand, the concept of compulsory superannuation suggests that Australians are ... Read moreThe existing superannuation system is built on a contradictory notion of the way people make financial decisions. On the one hand, the concept of compulsory superannuation suggests that Australians are myopic, irrational and have to be forced to save. On the other hand, when forced into the system, fund members are assumed to be informed and discerning investors, able to make rational decisions about how to allocate their retirement savings among a host of competing alternatives. Only one of these opposing views can be correct and it is the responsibility of policymakers to design systems that accommodate real-world human behaviour.
Insurance and Advice
It wasn't too long ago when group life insurance was a small sector with just a handful of serious players. With the proliferation of group and industry super funds, the group risk market is today worth ... Read moreIt wasn't too long ago when group life insurance was a small sector with just a handful of serious players. With the proliferation of group and industry super funds, the group risk market is today worth close to $2.4 billion – and rising. Paul Trigg of ING writes about how technological innovation and simpler products have changed the insurance landscape, particularly in group risk, putting it at the frontline of the underinsurance battle. He highlights how more than half of Australians are now covered by a group insurance contract but that there is still a fair way to go to before everyone gets the right insurance cover.
Trigg says the industry needs to offer simple, affordable insurance and easier top-up options, which will prove valuable in tackling the country's underinsurance problem.
Investment
Superannuation funds with high allocations to unlisted assets considerably outperformed in the recent bear market. The question is, are unlisted assets truly ‘lower risk’ than their ... Read moreSuperannuation funds with high allocations to unlisted assets considerably outperformed in the recent bear market. The question is, are unlisted assets truly ‘lower risk’ than their listed equivalents? In this paper, Gareth Abley of MLC Implemented Consulting looks at the evidence that supports the argument that the positive performance of unlisted assets are due to valuation lag. Regardless of this, he argues that the psychological benefits of “smoothed” unlisted returns are quite real to the individual investor. He then explains the trade off between these psychological benefits and some of the hidden financial costs which are not as commonly known.
In recent times, more and more people are approaching their financial advisers to set up their own self managed superannuation funds (SMSFs) to invest in property. This is hardly surprising as most people ... Read moreIn recent times, more and more people are approaching their financial advisers to set up their own self managed superannuation funds (SMSFs) to invest in property. This is hardly surprising as most people want to be masters of their own destiny and the relatively new “instalment warrant” provisions may now provide an opportunity for superannuation funds to borrow. As an added bonus, superannuation funds generally enjoy a concessional tax environment under the current law, which makes property investment in superannuation funds tax attractive.
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