Tag: Industry Super Funds

Putting lipstick on the proverbial pig is what we’re seeing with pseudo-SMSF. It can be detrimental to those who want to step into the world of SMSF and take control of their financial future.

COSBOA has raised concerns about the culture of the superannuation industry, where it believes many director positions appear to be “sinecures” for people from unions and big business associations.

Median superannuation fund growth retreated 0.2 percent due to faltering share markets in May this year, but the news isn’t all bad with the return to date for the financial year reaching 10 percent.

Superannuation funds were slightly down in April, by a negligible 0.1 percent, following the mixed performance of global share markets due to the Greek sovereign debt crisis.

Financial advisers may be banned from charging commissions on investments and pension sales, under recommendations contained in the Cooper Review of superannuation.

One of Australia’s largest industry superannuation funds Cbus has agreed to merge with Connect, and will have almost $15 billion in assets under management.