Tag #Superannuation

Showing 37 to 48 of 57 results

dailymail.co.uk

🌐 75% Global Worthiness

Apr 4, 10:11

Albanese Downplays Major Cyberattack on Australian Super Funds

A coordinated cyberattack targeted at least five major Australian superannuation funds, potentially affecting thousands of accounts; Prime Minister Anthony Albanese downplayed the significance of the event, emphasizing the frequency of such attacks.

Albanese Downplays Major Cyberattack on Australian Super Funds

A coordinated cyberattack targeted at least five major Australian superannuation funds, potentially affecting thousands of accounts; Prime Minister Anthony Albanese downplayed the significance of the event, emphasizing the frequency of such attacks.

Progress

52% Bias Score

ShareSaveArticle

Peace, Justice, and Strong Institutions

12345678

Previous 1 of 8 Next

What is the immediate impact of the cyberattack on Australian superannuation funds and how is the government responding?

A coordinated cyberattack targeted multiple Australian superannuation funds, potentially affecting thousands of accounts. Initial reports suggest Australian Super and Australian Retirement Trust were impacted, with hundreds to thousands of accounts compromised. The Prime Minister, Anthony Albanese, downplayed the incident, citing the frequency of cyberattacks in Australia.

smh.com.au

🌐 85% Global Worthiness

Mar 28, 22:10

Trump's Tariffs Shake Australian Superannuation

President Trump's upcoming tariff announcement on April 2nd is causing global market uncertainty, significantly impacting the \$4.1 trillion Australian superannuation system with a substantial portion invested in US assets; however, long-term investment strategies remain largely unchanged due to the...

Trump's Tariffs Shake Australian Superannuation

President Trump's upcoming tariff announcement on April 2nd is causing global market uncertainty, significantly impacting the \$4.1 trillion Australian superannuation system with a substantial portion invested in US assets; however, long-term investment strategies remain largely unchanged due to the...

Progress

32% Bias Score

ShareSaveArticle

Decent Work and Economic Growth

12345678

Previous 1 of 8 Next

What are the key factors driving the increasing global investment of Australian superannuation funds, and what are the associated risks and benefits?

The increasing global investment of Australian superannuation funds, driven by the pursuit of higher returns and diversification beyond the domestic market, has heightened the impact of global events like Trump's trade policies. Australian super funds hold approximately \$635 billion in US assets, with projections exceeding \$1 trillion within a decade, highlighting the system's exposure to international market fluctuations.

smh.com.au

🌐 75% Global Worthiness

Mar 25, 22:11

Three Steps to Maximize Your Superannuation and Retirement Savings

To boost future financial security, individuals should make extra super contributions now to leverage compound interest (a 37-year-old contributing an extra \$100 weekly could gain \$248,000 by age 67), carefully consider their investment options within their super fund, and regularly check if they ...

Three Steps to Maximize Your Superannuation and Retirement Savings

To boost future financial security, individuals should make extra super contributions now to leverage compound interest (a 37-year-old contributing an extra \$100 weekly could gain \$248,000 by age 67), carefully consider their investment options within their super fund, and regularly check if they ...

Progress

32% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

What immediate financial actions can individuals take to maximize their retirement savings, and what are the potential short-term and long-term benefits?

Early and consistent superannuation contributions significantly impact retirement savings due to compound interest. A 37-year-old contributing an extra \$50 weekly could gain \$124,000 by age 67, while \$100 weekly yields \$248,000 (assuming a 6.7% return). Seeking professional financial advice is crucial for optimal contribution strategies.

theguardian.com

🌐 85% Global Worthiness

Feb 23, 07:07

Australian Superannuation Industry Lobbying for US Tariff Exemption

Australia's $2.8 trillion superannuation industry is lobbying the US for an exemption from steel and aluminum tariffs, sending a delegation to meet with US officials and highlighting significant investments in the US economy, with Treasurer Jim Chalmers also lobbying for the exemption.

Australian Superannuation Industry Lobbying for US Tariff Exemption

Australia's $2.8 trillion superannuation industry is lobbying the US for an exemption from steel and aluminum tariffs, sending a delegation to meet with US officials and highlighting significant investments in the US economy, with Treasurer Jim Chalmers also lobbying for the exemption.

Progress

40% Bias Score

ShareSaveArticle

Decent Work and Economic Growth

12345678

Previous 1 of 8 Next

What is the primary objective of the Australian superannuation industry's delegation to the US, and what are the potential immediate consequences of their actions?

Australia's $2.8 trillion superannuation industry is lobbying the Trump administration for an exemption from steel and aluminum tariffs. A delegation of major Australian funds will meet with US officials to highlight their significant investments in the US economy and plans for further investment. Treasurer Jim Chalmers will also meet with US Treasury Secretary Scott Bessent to discuss the issue.

smh.com.au

🌐 85% Global Worthiness

Feb 14, 16:10

Australia's Retirement Crisis: A Key Election Issue

With half of Australia's electorate now aged 50 and over, retirement issues are center stage in the upcoming election, demanding government action on superannuation stability, affordable financial advice, retirement education, rent assistance, downsizing penalties, and healthcare costs.

Australia's Retirement Crisis: A Key Election Issue

With half of Australia's electorate now aged 50 and over, retirement issues are center stage in the upcoming election, demanding government action on superannuation stability, affordable financial advice, retirement education, rent assistance, downsizing penalties, and healthcare costs.

Progress

48% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

How can the government make financial advice more affordable and accessible for all retirees, while ensuring consumer protection?

The article highlights the need for policy changes to address these issues. Current superannuation tax rules lack stability, hindering long-term planning. High costs for financial advice limit accessibility for many retirees.

smh.com.au

🌐 65% Global Worthiness

Jan 31, 22:08

Pension-Phase Superannuation Funds Outperform Accumulation Funds in 2024

Australian pension-phase superannuation funds outperformed accumulation-phase funds in 2024, with average returns of 12.2 percent and 11.4 percent respectively, primarily due to tax-free earnings; top-performing funds like Unisuper and CFS FirstChoice significantly exceeded these averages.

Pension-Phase Superannuation Funds Outperform Accumulation Funds in 2024

Australian pension-phase superannuation funds outperformed accumulation-phase funds in 2024, with average returns of 12.2 percent and 11.4 percent respectively, primarily due to tax-free earnings; top-performing funds like Unisuper and CFS FirstChoice significantly exceeded these averages.

Progress

48% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

Which funds were the top performers in both accumulation and pension phases in 2024, and what factors contributed to their superior returns?

Top-performing pension-phase funds, such as Unisuper's Growth Fund (16 percent return) and CFS FirstChoice (15.1 percent return), showcased the potential for substantial gains in retirement. This outperformance highlights the importance of strategic fund selection and timely transitions into the pension phase to maximize returns and compound tax-free growth.

smh.com.au

🌐 85% Global Worthiness

Mar 30, 22:11

ASIC Blasts Super Funds for Delays in Death Benefit Payouts

ASIC's landmark report criticizes Australia's $4.1 trillion superannuation industry for significant delays in death benefit payouts, citing cases of families waiting nearly a year to receive funds despite binding nominations, leading to legal action against several major funds and prompting calls fo...

ASIC Blasts Super Funds for Delays in Death Benefit Payouts

ASIC's landmark report criticizes Australia's $4.1 trillion superannuation industry for significant delays in death benefit payouts, citing cases of families waiting nearly a year to receive funds despite binding nominations, leading to legal action against several major funds and prompting calls fo...

Progress

52% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

What are the most significant findings of ASIC's report on the handling of death benefit claims in Australia's superannuation industry?

The Australian Securities and Investments Commission (ASIC) report reveals significant delays in superannuation death benefit payouts, with some grieving families waiting almost a year. ASIC criticizes fund leadership for failing to prioritize timely processing, highlighting cases of unnecessary delays despite binding nominations. This has caused substantial distress to many families.

smh.com.au

🌐 75% Global Worthiness

Mar 28, 22:10

Australian Budget Neglects Retirees Amidst Family-Focused Spending

The 2023 Australian budget offered limited benefits to retirees and pre-retirees, focusing instead on families and younger workers, despite older Australians comprising over 50% of voters; key measures include a deeming rate freeze benefiting 450,000 pensioners and a short-term fuel excise cut.

Australian Budget Neglects Retirees Amidst Family-Focused Spending

The 2023 Australian budget offered limited benefits to retirees and pre-retirees, focusing instead on families and younger workers, despite older Australians comprising over 50% of voters; key measures include a deeming rate freeze benefiting 450,000 pensioners and a short-term fuel excise cut.

Progress

60% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What are the budget's most significant impacts on older Australians, and how do these compare to support for other demographics?

The Australian 2023 budget prioritized families and younger workers, leaving older Australians with minimal benefits despite comprising over 50% of voters. While tax cuts were announced, most retirees won't benefit due to existing tax exemptions and thresholds. A deeming rate freeze offers a small win for some pensioners, impacting around 450,000 individuals.

smh.com.au

🌐 75% Global Worthiness

Mar 12, 01:12

ASIC Sues AustralianSuper for Delayed Death Benefit Payouts

ASIC is suing AustralianSuper, a \$400 billion superannuation fund, for allegedly delaying 7,000 death benefit claims between 2019 and 2024, with one claim taking four years to process due to insufficient oversight and inefficient systems, prompting internal reviews and compensation payouts.

ASIC Sues AustralianSuper for Delayed Death Benefit Payouts

ASIC is suing AustralianSuper, a \$400 billion superannuation fund, for allegedly delaying 7,000 death benefit claims between 2019 and 2024, with one claim taking four years to process due to insufficient oversight and inefficient systems, prompting internal reviews and compensation payouts.

Progress

48% Bias Score

ShareSaveArticle

No Poverty

12345678

Previous 1 of 8 Next

What is the immediate impact of ASIC's lawsuit against AustralianSuper for delayed death benefit payouts?

The Australian Securities and Investments Commission (ASIC) is suing AustralianSuper for allegedly delaying death benefit payouts to deceased members' beneficiaries. Between 2019 and 2024, it took over four months to process 7,000 claims, with one case taking four years. ASIC cites inefficient, dishonest, and unfair practices.

smh.com.au

🌐 75% Global Worthiness

Feb 16, 22:08

UniSuper Outage Exposes Australia's Reliance on US Tech

A network outage at UniSuper, a major Australian superannuation fund, temporarily locked members out of their accounts, highlighting Australia's dependence on three US tech giants for critical infrastructure; members have since regained access.

UniSuper Outage Exposes Australia's Reliance on US Tech

A network outage at UniSuper, a major Australian superannuation fund, temporarily locked members out of their accounts, highlighting Australia's dependence on three US tech giants for critical infrastructure; members have since regained access.

Progress

8% Bias Score

ShareSaveArticle

12345678

Previous 1 of 8 Next

How does the UniSuper outage exemplify broader concerns about data security and the potential for disruptions to essential services?

The UniSuper outage underscores the vulnerability of essential services when dependent on a limited number of US-based technology providers. The incident raises concerns about data security and potential disruptions to financial systems, prompting questions about diversifying technological partnerships. This reliance creates a single point of failure with significant consequences.

smh.com.au

🌐 75% Global Worthiness

Feb 10, 07:09

Cbus Governance Review: Decade-Old Report Reveals Failures, Recommends More Independent Directors

A decade-old secret review of Cbus, Australia's industry superannuation giant, found governance failures, including member information leaks to the CFMEU, recommending more independent directors to curb the union's influence and improve the fund's culture.

Cbus Governance Review: Decade-Old Report Reveals Failures, Recommends More Independent Directors

A decade-old secret review of Cbus, Australia's industry superannuation giant, found governance failures, including member information leaks to the CFMEU, recommending more independent directors to curb the union's influence and improve the fund's culture.

Progress

40% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What were the key findings of the 2015 review of Cbus' governance, and what immediate actions were recommended to address the identified problems?

A 2015 review of Cbus, a $100 billion industry superannuation fund, revealed governance failures, including the leaking of member information to the CFMEU. The review, led by Graeme Samuel, found a "proprietorship" culture stemming from the board's composition of employer and union representatives. This culture, while fostering commitment to members, also created risks of undue reliance on the CFMEU and potential conflicts of interest.

smh.com.au

🌐 75% Global Worthiness

Jan 28, 13:10

Australia to Introduce Mandatory Standards for Faster Super Death Benefit Payments

The Albanese government plans to introduce mandatory standards for Australia's \$4.1 trillion superannuation industry to reduce delays in processing death benefits, addressing criticism and legal action against funds like Cbus for significant delays costing members \$20 million and causing distress ...

Australia to Introduce Mandatory Standards for Faster Super Death Benefit Payments

The Albanese government plans to introduce mandatory standards for Australia's \$4.1 trillion superannuation industry to reduce delays in processing death benefits, addressing criticism and legal action against funds like Cbus for significant delays costing members \$20 million and causing distress ...

Progress

44% Bias Score

ShareSaveArticle

Reduced Inequality

12345678

Previous 1 of 8 Next

What broader systemic issues within the Australian superannuation industry contribute to delays in death benefit payments?

The government's action is a direct response to widespread delays in processing death benefit claims within the \$4.1 trillion superannuation industry. This systemic issue has resulted in significant financial hardship and emotional distress for numerous families, prompting regulatory intervention to improve service standards and accountability.

Showing 37 to 48 of 57 results