IFM s Tandem leaves workers in the lurch afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
AUSfund to shut down, transfer accounts to Hostplus, ATO
Bloomberg
AUSfund, launched 33 years ago as a holding fund for dormant accounts transferred from other Australian super funds, will close in May following government moves to take responsibility for those assets.
A combined A$210 million ($160.1 million) of AUSfund accounts with balances of A$6,000 or more will be transferred to Melbourne-based Hostplus effective May 21, Cath Bowtell, AUSfund s chief executive officer, said in an email.
Meanwhile, a combined A$730 million of accounts with smaller balances will be transferred to the Australian Taxation Office, she said.
AUSfund invited 25 super funds to participate in a procurement process, selecting Hostplus, Ms. Bowtell said.
Industry funds pursue advice modelling unconstrained by regulation moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.
Big super s vanity media
The lame-duck New Daily vanity media project shows big super has got it all wrong about its real mission: to protect members best financial interests.
Jan 13, 2021 – 12.00am
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Cath Bowtell, chairwoman of
The New Daily, writes in our Letters page today that the Chanticleer column has got it all wrong about the Industry Super Holdings-owned news site. It’s unfair to criticise other media companies (as if the media exists beyond criticism), she says, and besides, no mainstream media organisation makes money (patently untrue).
RTBU national secretary Mark Diamond.
David Rowe
Ms Bowtell did not dispute Chanticleer’s calculation that