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APRA signals heatmap to stay despite benchmarking reforms

APRA signals heatmap to stay despite benchmarking reforms 18 December 2020 APRA has said that it will keep returning each year “like the Christmas Grinch” to publish super performance data, as it considers whether it should take enforcement action against eight trustees for underperformance. The prudential regulator has released the first full refresh of its heatmap since it was first published last December, publishing data that compares super funds across metrics such as net investment performance and fees.  The 2020 heatmap also has an accompanying report, which has shown that in the last 12 months, 11 of the MySuper products that underperformed the investment benchmarks in the first heatmap have exited the industry. 

APRA hints trustees in hot water

APRA hints trustees in hot water 18 December 2020 APRA is currently reviewing whether it should take enforcement action against eight superannuation trustees for failing in their obligations to members, as it has released its 2020 report card for the industry.  The prudential regulator has released the first full refresh of its heatmap since it was first published last December, publishing data that compares super funds across metrics such as net investment performance and fees.  The 2020 heatmap also has an accompanying report, which has shown in the last 12 months, 11 of the MySuper products that underperformed the investment benchmarks in the first heatmap have exited the industry.

Life insurance experts know the truth behind insurance statistics – clearly politicians don t

Life insurance experts know the truth behind insurance statistics – clearly politicians don’t Life insurance experts know the truth behind insurance statistics – clearly politicians don’t Financial services policymakers and regulators have been remarkably busy over the last few months. We had announcements from Labor politicians stating their goal is to remove commissions from life insurance policies, which is likely to see specialist life insurance advice become unobtainable to the average Australian. Then Labor MP Andrew Leigh stated that new APRA life insurance claims data “doesn’t paint a great picture for people who go to an adviser and buy life insurance”.

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