Happy New Year from Super Review

2 January 2024
| By Laura Dew |
image
image
expand image

Super Review would like to wish all our readers a Happy New Year and looks forward to bringing you all the latest news in 2024. 

As Australia rings in the new year, there is much to look forward to in 2024.

Perhaps one of the most discussed developments was opening the advice arena to super funds with the Quality of Advice Review, which will include advice on investment decisions, delivering retirement income, and considering broader circumstances for both the member and their households. Looking ahead, we can hope to see at least some of the review's recommendations enacted this year as Minister for Financial Services, Stephen Jones, promises a speedy process.

There was also greater focus in 2023 on retirement product development, solidified by Treasury’s release of a discussion paper in early December on how the superannuation system can provide the needed security and income in retirement.

We also saw a raft of consultations in the super space, including narrowing down the objective of superannuation; doubling the concessional tax rate for superannuation balances exceeding $3 million; and payday super to address the issue of unpaid superannuation.

Moreover, there was greater regulatory focus on issues like greenwashing and complaints handling in super, and we could expect to see more enforcement action from APRA and ASIC in these important areas. 

Whatever happens, you can rely on Super Review and our sister title Money Management to keep you abreast of all the latest developments.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 2 weeks ago
Kevin Gorman

Super director remuneration ...

10 months 3 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 3 weeks ago

The central bank has served up a disappointment for punters on Melbourne Cup Day....

9 hours ago

The fund’s inaugural chief retirement officer is looking to establish a new venture. ...

13 hours ago

The sovereign wealth fund remains cautious of the impact of high inflation as it announces a strong return in its latest update....

1 day 7 hours ago