Fri, 29th Mar 2024

In this week's Superannuation News Wrap, Financial Services Online discusses key monetary points. The Financial Services Council is advocating for reform to reduce superannuation advice costs, hoping to increase accessibility. A potential boom in superannuation funds, predicted by the Australian Prudential Regulation Authority, may outperform traditional banking. High-net-worth women are making progress in their financial control, with many adopting aggressive investment strategies. Meezan Wealth Management has launched 'Al-Mustaqbal', an Islamic SMSF offering Sharia-compliant investing, receiving particular interest from the medical sector and skilled migrants. Lastly, The Treasury has released draft regulations for the proposed $3 million superannuation tax cap, inviting discussions until April 26th. The draft suggests excluding employer contributions from total superannuation balance calculations to avoid redundancy.n