All posts tagged "member outcomes"
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94Australia & NZAustralia Tweaks Fee Component of Super Fund Performance Test
The test will be based on the most recent financial year of administration fees, rather than the past eight years, to incentivise fee reductions.
August 10, 2021 -
180Australia & NZ
Australian Senate Approves Landmark Superannuation Reforms
The reforms will enable easier comparison of super funds and block underperforming funds from gaining new members, among other changes.
June 23, 2021 -
211Australia & NZAPRA Mulls Changes to Super Fund Rules on Spending, Investing
APRA is considering rules that could limit super fund spending on advertising and memberships, as well as changes to the prudential standard on investment governance.
May 20, 2021 -
171Australia & NZAustralia Enhances Super Fund Performance Test in Draft Bill
Industry bodies broadly support the inclusion of administrative fees in the performance test, though an extra one million super accounts could fail the test as a result.
May 5, 2021 -
215Australia & NZSuperannuation Funds to Face Greater Scrutiny in 2021: APRA
To improve member outcomes, APRA will focus on strengthening its prudential framework, sharpening supervision, improving data and enhancing transparency.
February 16, 2021 -
156Australia & NZASIC Outlines Approach to Regulating Superannuation Trustees
ASIC’s Jane Eccleston says trustees of non-public offer funds need to apply for an AFS licence or vary their existing licences by 30 April 2021.
February 15, 2021 -
269Australia & NZ
APRA Issues Second Consultation on Insurance in Superannuation
Submissions in the previous consultation sought further clarification on the proposed changes, which are aimed at improving member outcomes.
January 21, 2021 -
297Australia & NZ
APRA Intensifies Scrutiny of Underperforming Super Funds
APRA will issue notices requiring eight trustees to provide information on the actions being taken to address underperformance. Formal enforcement powers may be used "where appropriate".
December 21, 2020 -
230Australia & NZ
APRA, ASIC Offer Guidance on Super Fund Obligations
Super funds can capitalise on potential synergies when building systems and processes for their Member Outcomes obligations and Product design and distribution obligations.
December 18, 2020 -
649Australia & NZ
APRA Urges Super Licencees to Simplify, Consolidate Products
This level of choice in the super industry may work against competition, overwhelming members with the more than 40,000 available options, says APRA's Helen Rowell.
July 24, 2020
