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ASIC’s Moneysmart recently convened a roundtable to work out why younger generations are feeling in the dark about their superannuation. Hint: funds just aren’t speaking the same language. And their comms skills? Mid at best.
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The AFR recently ran an article titled, "'It’s my money' attitude leading to illegal super withdrawals," followed by the subtitle, "Early release of super is only supposed to be allowed as a last resort. So why are so many people being approved to use it for dental work?"
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In its recent report on harmful advice charges, the Australian Securities and Investments Commission (ASIC) recently revealed that a staggering $990 million in advice fees were charged across 476,000 superannuation accounts.*
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Designing a comfortable retirement relies on various factors, including anticipating future needs, making adequate savings, and choosing the right super fund. Ultimately, you seek a fund that aligns with your investment values and offers good net returns after fees are factored in.
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Super funds have been on a positive trajectory, with March marking yet another month of strong performance.
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A report by investment firm Challenger has put into numbers what many of us have suspected all along: happiness in retirement relies in large part upon being financially secure. While physical health is the number one priority, financial stability is not far behind, especially in today’s economic climate.
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February brought a win for super funds and their members, with SuperRatings reporting a solid 1.8% increase for the median balanced option. This boost isn't just for the month; it's part of a bigger trend that's seen a 6.7% rise over the first eight months of the financial year.
Gender equality in superannuation is currently in the spotlight, and the Albanese Government is stepping up by planning to include superannuation payments in the Paid Parental Leave (PPL) scheme from 1 July 2025.
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Under a new partnership, major industry super funds are stepping up to invest in affordable housing, aiming to tackle Australia's housing shortage.
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If you're overseeing a self-managed super fund (SMSF), remember that the deadline for your annual returns is the 28th of February - leap year or not, this date doesn't budge. But, there's an easy solution to buy more time: enlist the help of an accountant.