EPISODE · Mar 23, 2024 · 2 MIN
Sun, 24th Mar 2024
from Superannuation News Wrap · host Paige Estritori
On this week's Superannuation News, there are some significant developments in the Australian retirement savings landscape. Industry Super Funds and SMSFs are projected to control the sector by 2043, due to the 'staple mechanism', which could increase the annual growth rates for post-retirement assets in industry funds. The Australian Parliamentary Joint Committee is redefining sophisticated investors' classification, potentially adjusting the wholesale investor test net asset threshold to $4.5 million. Australian super funds are experiencing a growth surge, driven by international shares. ASFA is advocating for tailored climate reporting standards to shape investment choices and establish sustainability benchmarks. Finally, AustralianSuper and TAL have introduced an 'income for life' product, enforcing their commitment to the financial security of Australia's aging population.
What this episode covers
On this week's Superannuation News, there are some significant developments in the Australian retirement savings landscape. Industry Super Funds and SMSFs are projected to control the sector by 2043, due to the 'staple mechanism', which could increase the annual growth rates for post-retirement assets in industry funds. The Australian Parliamentary Joint Committee is redefining sophisticated investors' classification, potentially adjusting the wholesale investor test net asset threshold to $4.5 million. Australian super funds are experiencing a growth surge, driven by international shares. ASFA is advocating for tailored climate reporting standards to shape investment choices and establish sustainability benchmarks. Finally, AustralianSuper and TAL have introduced an 'income for life' product, enforcing their commitment to the financial security of Australia's aging population.
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Sun, 24th Mar 2024
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