Fri, 4th Oct 2024 - Superannuation News Wrap

What this episode covers

In this episode of the Weekly Superannuation News Wrap, Paige Estritori discusses significant changes to financial advice fees and concerns regarding retirement calculators. The Australian Taxation Office has made financial advice more accessible by expanding tax-deductible fees due to efforts by the Financial Planning Association and Association of Financial Advisers. However, initial advice fees remain non-deductible. Super Consumers Australia has raised concerns about the reliability of retirement calculators provided by super funds. They've been deemed misleading due to using standardized models over personalized circumstances, with 77% making baseless assumptions - prompting calls for government-led reform. These developments in the financial advice sector could significantly shape the future of individuals and the economy.

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When was this Superannuation News Wrap episode published?

This episode was published on October 3, 2024.

What is this episode about?

In this episode of the Weekly Superannuation News Wrap, Paige Estritori discusses significant changes to financial advice fees and concerns regarding retirement calculators. The Australian Taxation Office has made financial advice more accessible by...

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