AUSTRALIA - Federal assistant treasurer Mal Brough has accused Australian Labor Party leader Kim Beazley of putting the nation's retirement funds at risk and using them to pay for his "pet" infrastructure investments.
Brough’s comments followed Beazley’s ‘nation building blueprint’ speech yesterday which highlighted the need to “drive sensible improvements” in linking some of the A$740bn in Australia's superannuation...
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.
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.
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.
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.