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Super Members' Council urges govt to slash red tape to save retirees in super fees

The Super Members Council is urging the government to slash red tape on super accounts in retirement to save tens of thousands of retirees from paying two sets of super fees. ....

Misha Schubert , Superannuation Industry Supervision Act ,

Use it or lose it: Call for legislation to make retirees spend more

A recent summit that focusses on behavioural finance and investment philosophy has suggested that the Government legislate that retirees take more out of their superannuation to discourage them from p ....

Richard Dinham , Mark Lapedus , Treasury Department , Allianz Retire Plus , Superannuation Industry Supervision Act ,

What your kids need to know about sharing your super after you die

You could be asking for trouble if you have only one child as a trustee because there is a great potential for dispute. ....

Peter Townsend , Townsend Business , Corporate Lawyers , Superannuation Industry Supervision Act ,

CareSuper member fee for penalties justified by court

CareSuper’s proposal to reserve a portion of member assets for future Commonwealth penalties, which was in response to recent law changes, has been found to be justified by the Supreme Court of Victoria. ....

Julie Lander , Supreme Court , Super Pty Ltd , Pty Ltd , Superannuation Industry Supervision Act , Mills Oakley , General Reserve , Industry Superfund , Julie Lander ,

Fix regulators, not the law: AIST

Fix regulators, not the law: AIST
08 April 2021
The proposed update to the best interests duty has sparked debate for stakeholders across superannuation, but a peak industry body has declared the law doesn’t need to change, regulators have held back on fully using their current powers.
One of the government’s proposals under the Your Future, Your Super reforms is an amendment to
Superannuation Industry Supervision Act (
SIS Act), which would change the best interests duty to specifically requiring trustees act in members’ “best financial interests”.
The draft bill has also proposed to reverse the evidential burden of proof, so it is up to trustees and directors to show they performed their duties in line with the best financial interests of beneficiaries, rather than requiring regulators to prove their guilt. ....

Helen Rowell , Sarah Simpkins , Andrew Bragg , Scott Donald , Nadia Bromley , Luke Barrett , David Haynes , Martin Fahy , Centre For Law , Association Of Superannuation Funds Australia , Law Council , Australian Institute Of Superannuation Trustees , Law Council Of Australia , Superannuation Industry Supervision Act , Australian Institute , Superannuation Trustees , Senator Andrew Bragg , Superannuation Funds , Momentum Media , ஹெலன் ரோவெல் , சாரா சிம்ப்கின்ஸ் , ஆண்ட்ரூ தற்பெருமை , ஸ்காட் டொனால்ட் , லூக் பாரெட் , டேவிட் ஹேன்ஸ் , மார்டின் பஹி ,