Tag: Superannuation
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Australia’s $4.3T Super Sector: How It Fared in a Tumultuous Year
Overview: A Record-Breaking Scale Meets Market Volatility Australia’s superannuation system remains one of the world’s largest and most influential retirement savings engines, now housing roughly $4.3 trillion in assets. This year has been marked by global market volatility, fears of a possible technology stock bubble, and ongoing reassessments of central bank policy. Yet, for many…
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Australia’s $4.3t Super Sector: Year in Review
Overview: A turbulent year for Australia’s massive super sector Australia’s $4.3 trillion superannuation sector has been in the spotlight as global markets swung between optimism and jitters. With a broad mix of growth, income, and defensive assets, Australian super funds have faced a year defined by shifting tech valuations, inflation dynamics, and a steady push-pull…
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Australia’s $4.3 T Super Sector: A Tumultuous Year Ends on a Solid Note
Overview: A Year of Turbulence and Return Australia’s superannuation system, now worth about $4.3 trillion, has faced a volatile year marked by global market jitters, concerns over technology stock valuations, and shifting macroeconomic signals. Yet, with global shares delivering a robust performance and risk controls tightening in many funds, the sector is on track to…
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New Zealand Needs Cross-Party Action on Retirement Reform, Urges Retirement Commissioner
Introduction: A Call for Bipartisan Retirement Reform The Retirement Commissioner has urged New Zealand’s politicians to work together across party lines to overhaul the country’s retirement system. The appeal comes amid concerns that piecemeal policy changes have left families unsure about their financial futures and the system less resilient to evolving demographics and work patterns.…
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Rising Super Withdrawals for Medical Costs in Australia Draws Consumer and Regulator Scrutiny
Overview: A Growing Trend in Compassionate Super Withdrawals Thousands of Australians are tapping into their retirement savings on compassionate grounds, with the latest figures showing more than $1.4 billion approved for medical, dental, and related expenses in the 2024-25 financial year. This marks another notable rise from prior years and underscores a broad shift in…
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Australia’s Super Compassionate Withdrawals Spark Consumer and Regulator Alarm
Rising Compassionate Withdrawals Spotlight Health Costs and Regulatory Risks Australians have increasingly turned to their superannuation to cover urgent medical needs, with more than 1.4 billion dollars approved on compassionate grounds in the past financial year. The trend, which has persisted since 2018-19, is drawing scrutiny from consumer groups and regulators who fear some arrangements…
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Regulators Eye Compassionate Super Withdrawals as Dental Costs Surge in Australia
Growing Pressure as Compassionate Withdrawals Hit New Heights Thousands of Australians are accessing their superannuation on compassionate grounds, with the latest figures showing a sharp rise in approvals for medical-related withdrawals. In the 2024-25 financial year, more than $1.37 billion was approved for medical reasons, climbing from just over $1 billion the previous year and…
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Markets Live: ASX Set to Rise Amid Trump-China Tensions
Markets Live: ASX Set to Rise Amid Global Tensions The Australian share market is poised to open higher, with ASX futures suggesting a 0.8% gain in early trade, even as global markets wrestle with fresh tensions between the United States and China. Traders are weighing the latest moves from Washington and Beijing against a mixed…
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Superannuation Customer Service: ASIC Slams Communications
Industry watchdog spotlighted as retirees face delays A corporate watchdog has sharpened its focus on how Australian super funds communicate with retirees, following complaints about slow processing, lost paperwork, and poor customer service. The issue is not isolated to a single fund; it comes amid an ongoing review targeting 12 trustees that collectively manage more…
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ASIC presses on with scrutiny of super funds over customer service and retiree communications
Industry under the microscope: ASIC’s renewed focus on retirement communications Australia’s corporate watchdog is intensifying its oversight of how superannuation funds communicate with members, particularly during retirement and in death benefit scenarios. The push follows a string of concerns raised about customer service and the quality of information provided to retirees and their families. Case…