New regulatory regimes have granted people more control over their superannuation than ever before and opened up a new world of innovation for funds. Open Super is here.
Open Banking empowers consumers to request their financial data is made available to accredited third parties such as utility providers, fintechs or other banks, leading to more transparent decision making.
What was lost in much of the election discussion around the removal of the refund of franking credits for individuals and superannuation funds, was the tax policy issue that is trying to be addressed.
Given all the coverage of the Royal Commission’s criticisms of the financial services sector, you might be forgiven for thinking the superannuation sector is in a bad way. Far from it.
On Day 2 of the Championships at Royal Randwick, the highlight of the Autumn Racing Carnival, will see the final race of Australia’s champion racehorse, Winx.
The centrepiece of the Budget is the personal tax cuts – and it is welcome, given sluggish wage growth to see action for both lower and middle earners.
In recent months there has been a lot of commentary – and regulatory exhortation – in the superannuation sector suggesting that a wave of fund mergers is imminent.
Regardless of how, and in what form, the Report’s recommendations are implemented, they will undoubtedly have a significant impact on the structure of the superannuation industry for many years to come.
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