Professional Pensions www.professionalpensions.com Australia to legislate 'pot follows member' as part of package of reforms to overhaul superannuation system <p><!--summary start--> <!--summary end--></p> https://www.professionalpensions.com/news/4021431/australia-legislate-pot-follows-member-package-reforms-overhaul-superannuation https://www.professionalpensions.com/news/4021431/australia-legislate-pot-follows-member-package-reforms-overhaul-superannuation Thu, 8 Oct 2020 15:26:01 +0000 Bill introduced to increase contribution rate to 12% <p><!--summary start--> AUSTRALIA - The wheels were finally set in motion to raise the contribution limit in Australia to 12% from 9% with the introduction of a new bill today. <!--summary end--></p> https://www.professionalpensions.com/news/2122076/introduced-increase-contribution-rate https://www.professionalpensions.com/news/2122076/introduced-increase-contribution-rate Wed, 2 Nov 2011 14:54:39 +0000 NZ Super down by 11% <p><!--summary start--> NEW ZEALAND - The New Zealand Superannuation fund has returned -11% for the third quarter of 2011. <!--summary end--></p> https://www.professionalpensions.com/news/2122026/nz-super https://www.professionalpensions.com/news/2122026/nz-super Wed, 2 Nov 2011 13:29:32 +0000 Australian Future Fund returns -2.9% in third quarter <p><!--summary start--> AUSTRALIA - The A$73.2bn ($78.2bn) Future Fund lost 2.9% in the third quarter, though moves to decrease equity exposures helped stave off more drastic losses. <!--summary end--></p> https://www.professionalpensions.com/news/2120895/australian-future-fund-returns-quarter https://www.professionalpensions.com/news/2120895/australian-future-fund-returns-quarter Fri, 28 Oct 2011 14:31:23 +0000 Australian super falls for the fifth month <p><!--summary start--> AUSTRALIA - The median balanced superannuation fund has fallen for the fifth consecutive month returning -1.8%, -4.9% for the September quarter and -3.8% for the past year, SuperRatings finds. <!--summary end--></p> https://www.professionalpensions.com/news/1001354/australian-super-falls-fifth https://www.professionalpensions.com/news/1001354/australian-super-falls-fifth Fri, 21 Oct 2011 15:57:02 +0000 StatewideSuper and Local Super takes a step forward <p><!--summary start--> AUSTRALIA - The merger between the A$2.4bn (US$2.5bn) StatewideSuper and the A$1.7bn Local Super will move to the next stage, beginning the due diligence process following approval in principle from the funds' major shareholders. <!--summary end--></p> https://www.professionalpensions.com/news/2117386/statewidesuper-local-super-takes-step-forward https://www.professionalpensions.com/news/2117386/statewidesuper-local-super-takes-step-forward Fri, 14 Oct 2011 14:58:00 +0000 Video: Jeremy Cooper - Architect of reform <p><!--summary start--> Jeremy Cooper, author of Australia's Cooper review on superannuation, talks about his vision behind a lower-cost, more efficient pension system. He talks about the failure of traditional drivers of competition to lower prices in the financial services industry, and the obligation a compulsory system has to the state to be efficient. <!--summary end--></p> https://www.professionalpensions.com/news/2116717/video-jeremy-cooper-architect-reform https://www.professionalpensions.com/news/2116717/video-jeremy-cooper-architect-reform Wed, 12 Oct 2011 15:39:25 +0000 Commonwealth Super hires Northern Trust for custody <p><!--summary start--> AUSTRALIA - The A$24bn Commonwealth Superannuation Corporation has hired Northern Trust as custodian, marking the firm's first full-service master custody client in Australia. <!--summary end--></p> https://www.professionalpensions.com/news/2115919/commonwealth-super-hires-northern-trust-custody https://www.professionalpensions.com/news/2115919/commonwealth-super-hires-northern-trust-custody Mon, 10 Oct 2011 13:56:40 +0000 AIST calls for abolition of A$437 earnings threshold <p><!--summary start--> AUSTRALIA - The Australian Institute of Superannuation Trustees (AIST) has called for the abolition of the A$450 ($437) monthly earnings threshold for superannuation guarantee contributions. <!--summary end--></p> https://www.professionalpensions.com/news/2115049/aist-calls-abolition-ausd437-earnings-threshold https://www.professionalpensions.com/news/2115049/aist-calls-abolition-ausd437-earnings-threshold Thu, 6 Oct 2011 11:21:56 +0000 New Zealand Super up 25% in year to June <p><!--summary start--> NEW ZEALAND - The New Zealand Superannuation Fund rose by 25% in the year to June to hit a new high of NZ$19.03bn ($14bn), its annual report shows. <!--summary end--></p> https://www.professionalpensions.com/news/2114706/zealand-super-june https://www.professionalpensions.com/news/2114706/zealand-super-june Wed, 5 Oct 2011 12:53:59 +0000 Australian Government unveils plans for more efficient Supers <p><!--summary start--> Rachel Alembakis looks at the details behind the Australian government's plans to create a cheaper, more effective pensions industry <!--summary end--></p> https://www.professionalpensions.com/feature/2113631/australian-government-unveils-plans-efficient-supers https://www.professionalpensions.com/feature/2113631/australian-government-unveils-plans-efficient-supers Mon, 3 Oct 2011 12:32:53 +0000 Challenger's Jeremy Cooper: architect of reform <p><!--summary start--> Raquel Pichardo-Allison speaks to Jeremy Cooper, chairman of retirement income at Challenger and the man behind the government mandated Cooper Review into superannuation. His review led to near-immediate action to re-mould the Australian pensions industry. Cooper talks about his vision of a lower-cost, more efficient system <!--summary end--></p> https://www.professionalpensions.com/feature/2113626/challengers-jeremy-cooper-architect-reform https://www.professionalpensions.com/feature/2113626/challengers-jeremy-cooper-architect-reform Mon, 3 Oct 2011 12:32:07 +0000 Australian Super funds stay put in uncertain markets <p><!--summary start--> Rachel Alembakis finds superannuation funds are holding off on large-scale changes to investment strategies, at least for now <!--summary end--></p> https://www.professionalpensions.com/feature/2113614/australian-super-funds-stay-uncertain-markets https://www.professionalpensions.com/feature/2113614/australian-super-funds-stay-uncertain-markets Mon, 3 Oct 2011 12:25:05 +0000 Week on the web <p><!--summary start--> GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days. <!--summary end--></p> https://www.professionalpensions.com/news/2113459/web https://www.professionalpensions.com/news/2113459/web Fri, 30 Sep 2011 11:32:58 +0000 Australian supervisor gives details on stronger pension governance <p><!--summary start--> AUSTRALIA - The Australian Prudential Regulatory Authority is seeking feedback on proposals to strengthen corporate governance at super funds by requiring them to hold more capital, conduct stronger due diligence on external managers and improve risk management. <!--summary end--></p> https://www.professionalpensions.com/news/2113253/australian-supervisor-details-stronger-pension-governance https://www.professionalpensions.com/news/2113253/australian-supervisor-details-stronger-pension-governance Thu, 29 Sep 2011 15:24:51 +0000 Australian SWF head attacks European leaders <p><!--summary start--> AUSTRALIA/EUROPE - The head of Australia's sovereign wealth fund has launched a harsh attack on eurozone's political class, saying the bloc's debt crisis stemmed from "a failure of government to understand the nature of financial markets and to stop the level of indebtedness of countries". <!--summary end--></p> https://www.professionalpensions.com/news/1009003/australian-swf-head-attacks-european-leaders https://www.professionalpensions.com/news/1009003/australian-swf-head-attacks-european-leaders Mon, 26 Sep 2011 14:22:00 +0000 Australia unveils Stronger Super reforms <p><!--summary start--> AUSTRALIA - The superannuation industry has broadly welcomed the final details of the government's Stronger Super reforms, which it claims could result in a rise in member savings equivalent to a 1% increase in contributions. <!--summary end--></p> https://www.professionalpensions.com/news/2110839/government-unveils-stronger-super-reforms https://www.professionalpensions.com/news/2110839/government-unveils-stronger-super-reforms Wed, 21 Sep 2011 11:31:00 +0000 RecruitmentSuper awarded second five-star rating <p><!--summary start--> AUSTRALIA - RecruitmentSuper has been awarded a five-star rating for "outstanding value" for a second consecutive year. <!--summary end--></p> https://www.professionalpensions.com/news/2110550/recruitmentsuper-awarded-star-rating https://www.professionalpensions.com/news/2110550/recruitmentsuper-awarded-star-rating Tue, 20 Sep 2011 15:40:32 +0000 Sunsuper retains investment consultant Mercer <p><!--summary start--> AUSTRALIA - The A$17bn ($17.3bn) Sunsuper superannuation fund has retained Mercer as its investment consultant for the next three years. <!--summary end--></p> https://www.professionalpensions.com/news/2109050/sunsuper-retaines-investment-consultant-mercer https://www.professionalpensions.com/news/2109050/sunsuper-retaines-investment-consultant-mercer Wed, 14 Sep 2011 09:36:00 +0000 Asset Super and CareSuper open merger talks <p><!--summary start--> AUSTRALIA - Asset Super and CareSuper are in discussion about a possible merger, their chairmen have confirmed. <!--summary end--></p> https://www.professionalpensions.com/news/1004994/asset-super-caresuper-merger-talks https://www.professionalpensions.com/news/1004994/asset-super-caresuper-merger-talks Fri, 2 Sep 2011 10:48:00 +0000 Northern Trust appoints Australasia head <p><!--summary start--> AUSTRALIA/NEW ZEALAND - Northern Trust has appointed Rohan Singh as managing director of its Australia and New Zealand business. <!--summary end--></p> https://www.professionalpensions.com/news/2106020/northern-trust-appoints-australiasia-head https://www.professionalpensions.com/news/2106020/northern-trust-appoints-australiasia-head Thu, 1 Sep 2011 14:26:00 +0000 Logica and SuperChoice offer UK enrolment package <p><!--summary start--> UK/AUSTRALIA - Logica has linked up with Australian superannuation exchange SuperChoice to offer UK pension providers a streamlined product to process contributions under auto-enrolment. <!--summary end--></p> https://www.professionalpensions.com/news/2105996/logica-offers-enrolment-package https://www.professionalpensions.com/news/2105996/logica-offers-enrolment-package Thu, 1 Sep 2011 13:40:00 +0000 New Zealand Super returns 25.05% in past year <p><!--summary start--> NEW ZEALAND - The New Zealand Superannuation fund has returned 25.05% for its fiscal year ending June 2011. <!--summary end--></p> https://www.professionalpensions.com/news/2105967/zealand-super-returns-2505-past https://www.professionalpensions.com/news/2105967/zealand-super-returns-2505-past Thu, 1 Sep 2011 12:46:35 +0000 PM rejects creation of SWF <p><!--summary start--> AUSTRALIA - Prime minister Julia Gillard today rejected the idea of starting a sovereign wealth fund calling superannuation funds themselves "our trillion dollar sovereign wealth fund, but with market benefits". <!--summary end--></p> https://www.professionalpensions.com/news/2105610/pm-rejects-creation-swf https://www.professionalpensions.com/news/2105610/pm-rejects-creation-swf Wed, 31 Aug 2011 14:08:44 +0000 NZ super defends against cluster bomb claims <p><!--summary start--> NEW ZEALAND - The New Zealand superannuation fund is defending against Green Party claims saying it invests in companies manufacturing cluster bombs. <!--summary end--></p> https://www.professionalpensions.com/news/2104876/australian-super-investing-cluster-bombs-greens https://www.professionalpensions.com/news/2104876/australian-super-investing-cluster-bombs-greens Fri, 26 Aug 2011 14:46:00 +0000 McKeand leaves Aegon for Australian role <p><!--summary start--> UK/AUSTRALIA - Innes McKeand has left his post as head of equities at Aegon Asset Management to move to Australia. <!--summary end--></p> https://www.professionalpensions.com/news/2104126/mckeand-leaves-aegon-australian-role https://www.professionalpensions.com/news/2104126/mckeand-leaves-aegon-australian-role Wed, 24 Aug 2011 11:47:00 +0000 Mergers not always best for super funds - Russell <p><!--summary start--> AUSTRALIA - The growing trend for mergers between industry superannuation funds may not be serving the best interests of members, research by Russell Investments warns. <!--summary end--></p> https://www.professionalpensions.com/news/1023490/mergers-super-funds-russell https://www.professionalpensions.com/news/1023490/mergers-super-funds-russell Tue, 23 Aug 2011 10:07:00 +0000 Growth funds down 1.5% in July <p><!--summary start--> AUSTRALIA - The median growth superannuation fund (61 to 80% growth assets) fell 1.5% in July on the back of weak share markets, research from Chant West shows. <!--summary end--></p> https://www.professionalpensions.com/news/2103472/growth-funds-july https://www.professionalpensions.com/news/2103472/growth-funds-july Mon, 22 Aug 2011 14:04:40 +0000 New Zealand supports compulsory KiwiSaver membership <p><!--summary start--> NEW ZEALAND - More than half (57%) of New Zealanders believe that KiwiSaver membership should be compulsory, according to research released by the Financial Services Institute of Australasia (Finsia). <!--summary end--></p> https://www.professionalpensions.com/news/2102687/zealand-supports-compulsory-kiwisaver-membership https://www.professionalpensions.com/news/2102687/zealand-supports-compulsory-kiwisaver-membership Thu, 18 Aug 2011 10:15:05 +0000 Hostplus awards IFM A$100m equities mandate <p><!--summary start--> AUSTRALIA - The HOSTPLUS superannuation fund has awarded Industry Funds Management (IFM) a A$100m (US$104m) active Australian equities mandate. <!--summary end--></p> https://www.professionalpensions.com/news/2102676/hostplus-awards-ifm-ausd100m-equities-mandate https://www.professionalpensions.com/news/2102676/hostplus-awards-ifm-ausd100m-equities-mandate Thu, 18 Aug 2011 10:01:00 +0000 Future Fund earns A$9.37bn on Telstra holdings <p><!--summary start--> AUSTRALIA - The Future Fund has completed its sell-off of telecommunications company Telstra and said it earned A$9.37bn ($9.8bn) through dividends and share sales since the government transferred the shares to the fund in 2007. <!--summary end--></p> https://www.professionalpensions.com/news/2101894/future-fund-earns-ausd937bn-telstra-holdings https://www.professionalpensions.com/news/2101894/future-fund-earns-ausd937bn-telstra-holdings Mon, 15 Aug 2011 15:37:09 +0000 Aviva Investors sells Australia business <p><!--summary start--> AUSTRALIA - Aviva Investors has sold its Australia business to National Australia Bank's asset management business as part of a restructure within its Asia Pacific operation. <!--summary end--></p> https://www.professionalpensions.com/news/2101080/aviva-investors-sells-australia-business https://www.professionalpensions.com/news/2101080/aviva-investors-sells-australia-business Thu, 11 Aug 2011 12:08:54 +0000 Super members told not to panic <p><!--summary start--> AUSTRALIA - Mercer has urged superannuation fund members not to panic in the face of market volatility. <!--summary end--></p> https://www.professionalpensions.com/news/2101038/super-told-panic https://www.professionalpensions.com/news/2101038/super-told-panic Thu, 11 Aug 2011 11:23:24 +0000 Future fund posts 12.4% return <p><!--summary start--> AUSTRALIA - Future Fund has posted a return of 12.4% for the financial year ending 30 June, with the fund's assets under management totalling A$75.15bn(US$77.8bn). <!--summary end--></p> https://www.professionalpensions.com/news/2100848/future-fund-posts-124-return https://www.professionalpensions.com/news/2100848/future-fund-posts-124-return Wed, 10 Aug 2011 12:01:00 +0000 Super fund members told not to panic as global markets plummet <p><!--summary start--> AUSTRALIA - Superannuation funds have seen a massive spike in calls from members concerned by the ongoing global market volatility, an industry body said. <!--summary end--></p> https://www.professionalpensions.com/news/1002281/super-fund-told-panic-global-markets-plummet https://www.professionalpensions.com/news/1002281/super-fund-told-panic-global-markets-plummet Tue, 9 Aug 2011 12:23:51 +0000 FSC calls for default fund equiry to be brought forward <p><!--summary start--> AUSTRALIA - The Financial Services Council has called for the Productivity Commission to bring forward its enquiry into how default funds are awarded in negotiated agreements. <!--summary end--></p> https://www.professionalpensions.com/news/2100367/fsc-calls-default-fund-equiry-brought-forward https://www.professionalpensions.com/news/2100367/fsc-calls-default-fund-equiry-brought-forward Tue, 9 Aug 2011 11:58:33 +0000 Tax calculator launched for super funds <p><!--summary start--> AUSTRALIA - Milestone Group has launched a new Tax Expense Calculation module for superannuation funds. <!--summary end--></p> https://www.professionalpensions.com/news/2100077/tax-calculator-launched-super-funds https://www.professionalpensions.com/news/2100077/tax-calculator-launched-super-funds Mon, 8 Aug 2011 12:02:28 +0000 StatewideSuper and Local Super funds to merge <p><!--summary start--> AUSTRALIA - The A$2.4bn (US$2.5bn)StatewideSuper and A$1.7bn Local Super have argreed to merge, creating one of the largest superannuation funds in South Australia. <!--summary end--></p> https://www.professionalpensions.com/news/1012914/statewidesuper-local-super-funds-merge https://www.professionalpensions.com/news/1012914/statewidesuper-local-super-funds-merge Fri, 5 Aug 2011 11:14:00 +0000 Super funds holding A$1.2bn in reserves <p><!--summary start--> AUSTRALIA - Industry superannuation funds are holding A$1.2bn (US$1.2bn) in operating and general reserves, research by Deloitte has found. <!--summary end--></p> https://www.professionalpensions.com/news/2099363/super-funds-holding-ausd12bn-reserves https://www.professionalpensions.com/news/2099363/super-funds-holding-ausd12bn-reserves Thu, 4 Aug 2011 10:06:36 +0000