Government must look beyond super
MEDIA - 15 April 2016 - The government must include subsidiary
objectives around life insurance and non-superannuation savings
when it moves to define the purpose of super in law, according to
Push to separate legacy issues from super
MEDIA – 14 April 2016 - Key elements of the financial
services industry are pushing for the Federal Government to avoid
defining the purpose of superannuation within the existing
legislative regime around superannuation.
AIST wants independent super oversight
MEDIA - 14 April 2016 - The Australian Institute of Superannuation
Trustees (AIST) has urged the establishment of an independent,
publicly-funded body tasked with assessing the degree to which
future superannuation policy complies with the legislated purpose
Objective of superannuation
GOVERNANCE INSTITUTE – 13 April 2016 - In October 2015, the
Federal Government announced that it would develop legislation to
enshrine the objective of superannuation, as part of its response
to the Financial System Inquiry (FSI). The government has accepted
the recommendation of the FSI that the objective of the
superannuation system is to provide income in retirement to
substitute or supplement the age pension.
Status and seniority ruled out in TPD
MEDIA – 12 April 2016 – Maintaining previous job status
and standing cannot be called upon to justify being determined
totally and permanently disabled (TPD), according to a recent
determination by the Superannuation Complaints Tribunal (SCT).
CAANZ calls for salary sacrificing
MEDIA – 12 April 2016 – Chartered Accountants Australia
and New Zealand (CAANZ) has recommended adjusting legislation to
prevent employers utilising their employee's salary sacrificed
superannuation contributions to satisfy their own superannuation
Actuaries Institute urge Government to review entire
MEDIA – 11 April 2016 – The Actuaries Institute is
calling on the Government to develop comprehensive guidelines to
give Australians a comfortable lifestyle in retirement that is both
'equitable and flexible', in line with the Association of
Superannuation Funds of Australia (ASFA)
comfortable retirement standard.
David Murray: Superannuation 'objective' likely
to be captured by industry
MEDIA – 7 April 2016 - As the government
moves closer to enshrining the objective of superannuation in
legislation, it's worth considering the unintended consequences
that could come from such a move.
SFA – 6 April 2016 – Submission to Treasury titled
'Objective of Superannuation'.
AIST Submission: Objective of
AIST – 6 April 2016 – AIST supports the primary
objective for the superannuation being to provide retirement income
for all Australians that, when combined with or in replacement of
any public pension, ensures a reasonably comfortable living
standard, in the spirit of fairness within and between generations.
APRA: Helen Rowell's speech 'Governance and
culture in superannuation' at the AFR Banking & Wealth
APRA – 5 April 2016 – Insights into some of the
areas on which APRA will be focusing over 2016.
Legislation – Commonwealth
Tax and Superannuation Laws Amendment (2016 Measures
No. 1) Regulation 2016
This instrument amends the A New Tax System (Goods and Services
Tax) Regulations 1999 and the Superannuation Industry
(Supervision) Regulations 1994 to make consequential
amendments to account for changes to the tax law made by the
Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act
2016 and the Tax and Superannuation Laws Amendment (2016
Measures No. 1) Act 2016. Registered: 15 April 2016. More...
This publication does not deal with every important topic or
change in law and is not intended to be relied upon as a substitute
for legal or other advice that may be relevant to the reader's
specific circumstances. If you have found this publication of
interest and would like to know more or wish to obtain legal advice
relevant to your circumstances please contact one of the named
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
This article includes five takeouts for robo advisers following RG 255: ASIC's new digital advice regulatory guide.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).