AMP’s chief economist Shane Oliver has shared his forecast for superannuation fund returns in 2023, although he warns there is still a recession risk for next year.
Australian superannuation funds have welcomed the Delivering Better Financial Outcomes reforms as a “big win” to provide expanded advice services, including the ability to ‘nudge’ their members.
Superannuation funds have bounced back after three months of losses, with November seeing strong returns into the holiday period.
APRA has imposed additional licence restrictions on NGS Super, which suffered a cyber attack in March this year.
Superhero has announced three senior hires as it updates its superannuation offering with a wider investment range and member features.
Financial software firm Bravura has appointed two chief executives for the Asia-Pacific and EMEA regions.
The Super Members Council of Australia, the newly merged AIST and ISA body, has voiced its support for payday superannuation following the government’s consultation.
Super funds feel under “enormous pressure” from the regulator to simultaneously cut member fees and meet new regulatory requirements with 48 different pieces of regulation seen in the past quarter.
Minister for financial services, Stephen Jones, has unveiled details about what areas superannuation funds can charge members for advice as well as confirmed they can ‘nudge’ their members to take action.
Treasurer Jim Chalmers has announced the government will soon consult to improve the superannuation performance test amid claims that it disincentivises sustainable investment from funds.