Wed, 17th Apr 2024

In the latest Superannuation News Wrap by Financial Services Online, major highlights include the new role of financial advisors following the July 2022 introduction of the Retirement Income Covenant. With variations seen in superannuation fund trustees' compliance, advisors are urged to educate clients on diverse market-linked and guaranteed options. The Law Council of Australia has expressed concerns about the possible negative impact on judicial career prospects from proposed tax changes to federal judge pensions. From July 2024, super fund contributors can look forward to a near 10% increase in maximum contribution caps, potentially offsetting living costs and wage stagnation. New parents may benefit from the less-known superannuation co-contribution scheme for life insurance. Lastly, local superannuation fund Rest has joined forces with Fidelity International's LOGICs Fund on a green initiative to refurbish logistics in Western Europe with a focus on zero carbon emissions.n