All posts tagged "Superannuation"
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269Australia & NZAustralian Makes Tax Relief for Merging Super Funds Permanent
Financial Services Council chief Sally Loane welcomed the move, but expressed disappointment with changes that may create another tax compliance burden for managed funds.
May 16, 2020 -
477AML / KYCATO to Run Additional Checks to Prevent Superannuation Fraud
Australia's superannuation early access scheme was temporarily suspended late last week due to fraud. It has since resumed, with enhancements to increase the end-to-end security.
May 12, 2020 -
447AML / KYC
Australian Police Launch Probe into Super Fund Early Release Fraud
Five search warrants have so far been executed in relation to the fraud, and bank accounts containing AUD 120,000 in stolen super money have so far been frozen.
May 8, 2020 -
318Australia & NZSuper Funds Pay Out A$1.3b in First Week of Early Release Scheme
The Association of Superannuation Funds of Australia estimates that super funds may have paid out A$7.1bn in total, including the second week of the initiative.
May 4, 2020 -
978Asia-PacificAsian Pensions Under Pressure on Early Withdrawals
The trade-off between the needs of today and the desires of tomorrow is challenging the retirement savings systems in Asia as Covid-19 forces early withdrawals.
April 27, 2020 -
395Australia & NZ
APRA Announces Reporting Requirement for Early Superannuation Release
RSE licencees are asked to complete and submit APRA’s new Early Release Initiative data collection form on a weekly basis. The first data collection is due on 20 April.
April 21, 2020 -
329Australia & NZASIC Eases Financial Advice Rules to Facilitate Super Withdrawals
Under ASIC relief, advice providers, tax agents and superannuation trustees are allowed to advise consumers on early withdrawals of their superannuation savings.
April 15, 2020 -
322Australia & NZAustralia: 10yr Jail Term Imposed for Superannuation Misappropriation
The director of a group of companies used A$1.2mn from self-managed superannuation funds intended for property investments to "fund a lavish lifestyle".
April 9, 2020 -
355Australia & NZ
APRA Suspends Issuance of New Licenses
Given the challenges new entrants face even under normal economic conditions, APRA does not consider it prudent to license new entities for at least the next six months.
April 9, 2020 -
641Australia & NZ
Australia: Super Funds Seek Liquidity Backstop Facility
The government will allow individuals in financial stress to access superannuation savings, but may have underestimated the ability of super funds to meet withdrawals.
March 27, 2020
