MobiSuper, licensee to pay $250k penalty
MobiSuper and its licensee will pay a $250,000 penalty for breaching superannuation advice laws while promoting the MobiSuper fund.
Source: financialstandard.com.au
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The super funds allocating over 85% to equities
With younger members encouraged to opt for high growth superannuation funds which reflect their long-term time horizons, super funds targeting young people are holding over three-quarters of their weighting to equities.
Source: superreview.com.au
Women don't own their fair share of superannuation
Rainmaker Information Australian women, despite making up 50% of Australia’s population, own roughly 40% of all superannuation funds under management (FUM), equal to $1.2 trillion. Rainmaker Information analysis released in the latest Superannuation Benchmarking Report recognised this imbalance. Superannuation’s gender inequality is present at all stages of a woman’s working life. Women make up 50% of millennial superannuation accounts, yet their account balances represent only 43% of the age group’s respective FUM. Women make up 53% of retirees yet own just 44% of retiree superannuat...
Source: miragenews.com