Was the QSuper court decision correctly decided?
The call by QSuper to remunerate trustees out of the fund’s assets and create a reserve for future penalties has highlighted issues over how members’ money should be used.
Source: superreview.com.au
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QSuper's court bid for power to hike fees
The $120 billion fund is pleading with the Queensland Supreme Court for the power to charge members a fee that will help pay for penalties in the event of breaches.
Source: afr.com
QSuper contemplating deduction of external advice fees
Asked whether it allowed members to use their funds to pay for financial advice, internal financial advisers or external advisers, the superannuation fund said it did not have any current arrangement for either internal or external financial advisers to deduct an advice fee. “Last financial year, QSuper allowed QInvest financial advisers to deduct the sole purpose test portion of the comprehensive advice fee from a members account, if expressly authorised to do so by the member,” it said. “However, this service closed to new bookings on 6 July, 2020.” “As a consequence of closin...
Source: moneymanagement.com.au