EPISODE · Dec 17, 2024
Wed, 18th Dec 2024
from Superannuation News Wrap · host Paige Estritori
In this week's Superannuation News Wrap, Paige Estritori covers increasing scrutiny on APRA due to concerns of overcharging members on default insurance settings. Notably, some funds apply higher 'blue-collar' insurance rates despite having employment details for lower 'white-collar' premiums. In response, APRA emphasizes data accuracy, transparency, and equitable premium policies. Another major development is the reinforcement of the alliance between Colonial First State and AIA Australia. This extended partnership ensures continued coverage for 200,000 super fund members and results in benefits including reduced premiums and accessible comprehensive health programs. The podcast also highlights increased engagement in superannuation from Australia's younger population, with 74% of 18 to 43-year-olds reviewing their superannuation, and 94% acknowledging its role for retirement stability.n
What this episode covers
In this week's Superannuation News Wrap, Paige Estritori covers increasing scrutiny on APRA due to concerns of overcharging members on default insurance settings. Notably, some funds apply higher 'blue-collar' insurance rates despite having employment details for lower 'white-collar' premiums. In response, APRA emphasizes data accuracy, transparency, and equitable premium policies. Another major development is the reinforcement of the alliance between Colonial First State and AIA Australia. This extended partnership ensures continued coverage for 200,000 super fund members and results in benefits including reduced premiums and accessible comprehensive health programs. The podcast also highlights increased engagement in superannuation from Australia's younger population, with 74% of 18 to 43-year-olds reviewing their superannuation, and 94% acknowledging its role for retirement stability.n
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Wed, 18th Dec 2024
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