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Page 28 - ஆஸ்திரேலிய விவேகமான ஒழுங்குமுறை அதிகாரம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Superannuation body reports win despite Westpac gouging

Superannuation body reports win despite Westpac gouging 04 Jul 2021, 08:52 GMT+10 A major superannuation lobby group says the nation s super savers earned record returns this financial year - but is refusing to say how things went for Westpac-BT s 900,000-plus members who are losing over $1.5 billion a year to systemic gouging. The Association of Superannuation Funds of Australia (ASFA) released a statement claiming the nation s super funds had delivered exceptional benefits to members who earned average annual returns of nearly 20% . ASFA CEO Dr Martin Fahy is quoted as saying: Yet ASFA, which describes itself as the nation s peak research body for super has refused to provide any data whatsoever to back up that claim.

Life insurers brace for $1 5b hit from lockdown side effects

Life insurers brace for $1.5b hit from lockdown side effects Jul 4, 2021 – 4.00pm Share Life insurers have set aside more than $1.5 billion to prepare for extra claims from the expected wave of increased morbidity tied to COVID-19 lockdowns, as fewer Australians visit doctors for screening and fears grow about mental health deterioration. Clearview’s Simon Swanson.  James Alcock One of Australia’s top insurers, the Japan-headquartered TAL, booked a $130 million hit to its future profit margins because of a change in its assumptions for increased rates of morbidity, according to its financial accounts for the year ended March, which were lodged with the regulator last week.

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