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JMU works to keep college affordable amid lack of funding

JMU has historically lacked funding compared to other Virginia public universities, creating a lack of financial aid for low-income students.

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ASFA welcomes passage of RIC | Super Review

The Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 has been introduced to Parliament and will codify the the obligations for trustees to improve retirement outcomes for members.

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ASFA welcomes $450 threshold removal | Money Management

The removal of the threshold is expected to benefit around 300,000 people, of whom about 63% are female.

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ASFA targets commitments for net-zero by 2050

The association is seeking feedback on the direction of its climate change strategy with the aim of mitigating climate change risk in portfolios, following the release of a discussion paper.

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Remuneration restrictions 'problematic': ASFA

In a submission, the Association of Superannuation Funds of Australia says remuneration restrictions will handicap the industry when attracting talent.

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Businesses can afford SG rise | Super Review

The Association of Superannuation Funds of Australia has called on business to pass on the superannuation guarantee rise on to workers as they can afford it.

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ASFA welcomes push to increased retirement savings

Print
The Association of Superannuation Funds of Australia (ASFA) has welcomed the push from the Government’s reaffirmed commitment to increasing the superannuation guarantee (SG) to 12%, which was announced in the Federal Budget earlier this week, and said it was
an important step towards providing adequate retirement savings, particularly for women and younger Australians.
ASFA also supported the package of additional measures aimed at boosting women’s retirement savings and increasing flexibility for retirees to make contributions and access income streams which included:
Abolishing the $450 a month earnings threshold for the payment of the SG;
The removal of the work test (for those aged 67 to 74) for superannuation contributions;

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Women retire with over $30,000 lower balance in super than men

Women retire on average with a balance of $122,848 in super compared to men who, on average, retire with $154,453, according to the Association of Superannuation Funds Australia (ASFA).

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Home buyer inequity to grow if super used for deposit

The association said other potential effects of using super for a housing deposit were:
Increase already high house prices and levels of household leverage, increasing the vulnerability of households and the broader economy to negative shocks;
Exacerbate the upswing of the current house price-credit cycle;
Be an effective transfer of Australians’ retirement savings to property owners
and developers;
Be ineffective in assisting those interested in achieving home ownership given that most non homeowners in target age groups have low superannuation balances;
Make home ownership even more difficult for those with low superannuation balances or no superannuation due to the house price impact;

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Regulators need to get their act together on data and information

The financial services regulators need to cooperate to ensure that increased costs are not imposed on superannuation funds because of multiple requests for the same data.

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