The complaints authority is reviewing its funding model three years after the body had formed as super trustees have cited their contribution can lead to poor super member outcomes.
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New business premiums for individual disability income insurance will drop 15% due to the prudential regulator’s product intervention measures, according to DEXX&R projections.
Scrutiny is the biggest challenge for the superannuation industry, according to APRA board member, Margaret Cole, who said the regulator was exploring enforcement activity.
The prudential regulator is collecting more granular data on insurance premiums given the deteriorating experience in individual disability income insurance.