Australia: Superannuation & Funds Management - What's News - 5 March 2013

Last Updated: 9 March 2013
Most Read Contributor in Australia, September 2016

In the media

Superannuation guarantee remains a challenge
MEDIA - 28 February 2013 - Mandated increases in the superannuation guarantee (SG) are still testing for employers, according to research from Aon Hewitt, with 58 per cent of organisations are yet to determine their response to the increases beyond the end of the year. More...

Survey reveals many employers yet to assess the full impact of super reforms
MEDIA - 27 February 2013 - A significant number of Australian employers are yet to fully assess the impact of the upcoming Stronger Super reforms on their operations, and more than half don't have a plan in place to ensure compliance, a new survey has revealed. More...

MySuper applications rejected
APRA - 27 February 2013 - The Australian Prudential Regulatory Authority (APRA) has rejected approximately six MySuper licence applications due to deficient policies or incomplete or incorrect information, according to APRA. More...

Super assets ramp up to $1.51 trillion in 2012
MEDIA - 22 February 2013 - Superannuation assets enjoyed a 14.6 per cent boost for the 12 months ended 31 December 2012, according to the Australian Prudential Regulation Authority's (APRA's) December 2012 Quarterly Superannuation Performance publication. More...

AFA mulls fresh approach to FOFA code of conduct
MEDIA - 19 February 2013 - AFA is taking into account the views of advisers and licensees before deciding if the organisation should have an ASIC approved code or a two-part code with only the part relevant to obviating the need for opt-in approved by ASIC. More...

Run only to benefit members' model delivers better returns over the medium to long term
INDUSTRY SUPER NETWORK - 20 February 2013 - The latest SuperRatings data released today shows that industry super funds have, on average, outperformed retail funds - largely owned by major banks - over three, five, seven and 10 years. Industry super funds outperform because of low fees, no commissions, diversified investments. More...

AFA to build practical code of conduct
MEDIA - 19 February 2013 - Association consulting with advice profession to ensure comprehensive outcome. The Association of Financial Advisers (AFA) will use the extended time frame for the opt-in component of Future of Financial Advice (FOFA) reforms to "get it right" with its code of conduct. More...

Quarterly superannuation statistics for December 2012
Author: Australian Prudential Regulation Authority (APRA) The December 2012 Quarterly Superannuation Performances publication (21 February 2013). More...

SuperSeeker Upgrade
The popular online tool SuperSeeker has been improved to allow people to see and do more with their super. Once registered, people will be able to see the super accounts that they have contributed to in the previous two financial years, as well as super money held by the ATO. For more information and to access SuperSeeker, visit (27 February 2013).

Superannuation Approved Audit Report Form
Released by the Australian Prudential Regulation Authority (APRA), the Approved Audit Report Form for reporting periods commencing on or after 1 July 2012 ( February 2013) Audit Report Form (pdf version with notes) ( word version).




Tax and Superannuation Laws Amendment (2013 Measures No. 1) Bill 2013
Registered 20 February 2013, Introduced HR 13 February 2013.
A Bill for an Act to amend the law relating to taxation and superannuation, and for related purposes.
Administered by Treasury. More...

Legislative Instruments

Superannuation Industry (Supervision) Amendment Regulation 2013 (No. 1)
SLI 14/2013
Tabled Senate 25 February 2013 Date of Ceasing, Ceased 20 Feb 2013 on the first moment of the day. This regulation amends the Superannuation Industry (Supervision) Regulations 1994 to prescribe the details of the electronic portability request scheme. The scheme allows superannuation fund members to electronically request the rollover or transfer of their benefits from their fund through the Australian Taxation Office. More...

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