Thu, 23rd Jan 2025

In this episode of the Weekly Superannuation News Wrap, we discuss new developments from the Australian Prudential Regulation Authority (APRA) regarding profit-sharing arrangements between group life insurers and super funds. APRA emphasizes the importance of protecting member interests and maintaining fair insurance arrangements. We also address the growing awareness of climate risks on super funds. Financial regulators are urging super funds to collaborate with industry bodies to manage these risks, highlighting the need for standardized reporting on this topic. Finally, we consider the increasing calls for superannuation reform, including potential changes to the superannuation guarantee rate. Amid these discussions, there's unanimous agreement on the need for improved governance and a focus on member benefits. Stay informed about superannuation developments at financialservicesonline.com.au.