Page 11 - Future Your Super News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Print The Government’s proposed Your Future Your Super (YFYS) legislation stops short of addressing the underperformance across the superannuation sector, the Australian Institute of Superannuation Trustees (AIST) believes. AIST pointed to data from the Australian Prudential Regulation Authority (APRA) released this week that found over the five years to December 2020, profit-to-member super funds, on average, outperformed retail funds by 23%. AIST chief executive, Eva Scheerlinck, said this concentrated retail fund underperformance needed to be urgently addressed by the government and regu...

In the media Govt uses super legislation to impose portfolio holdings change MEFIA - 18 February 2021 - In what represents a hook in the Government's Your Future Your Super legislation, it has moved to impose portfolio holdings requirements on superannuation funds.  More... Your future, your Super reforms introduced into parliament TREASURY - 17 February 2021 - The Morrison Government has introduced legislation into parliament to ensure the superannuation system works harder for all Australians. The Your Future, Your Super package is scheduled to commence on 1 July 2021.  More... Industry f...

Industry superannuation funds want the Government’s new Your Future Your Super legislation referred to a Senate Committee claiming it creates an unprecedented over-reach of power amounting to a “kill switch”.

Government's superannuation package likely to cause consumer harm without substantial changes The Government's Your Future Your Super legislation –...

The explanatory memorandum to the Bill notes that it “includes amendments to the portfolio holdings disclosure rules, which generally require trustees to publish information about their disclosable investment items on their website. The portfolio holdings disclosure rules currently contain an exemption that allows trustees to choose not to disclose up to five per cent of superannuation holdings”. The Treasurer, Josh Frydenberg and the Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume, in announcing the introduction of the bill to the Parliament, made refe...