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The Federal Court has dismissed a key case from the Hayne Royal Commission after finding the arrangement between the Commonwealth Bank to distribute Colonial First State’s Essential Super product was not conflicted. The timing of the case comes as the Quality of Advice Review has proposed opening the door for super funds to give more advice.
The Albanese government wants super funds to have greater involvement in funding affordable housing, a move that may challenge the obligations placed on trustees.
Industry figures say the super industry is grappling with conflicting expectations on its role in core issues like financial literacy, infrastructure development and helping young people buy housing.
The two super funds have now signed a successor fund transfer deed. The merger between UniSuper and Australian Catholic Superannuation (ACS) has continued to progress with both funds having now signe
UniSuper and Australian Catholic Superannuation have reached the next milestone in the merger activity between the two funds, having signed the Successor Fund Transfer deed.