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The government’s plans to push superannuation funds and schemes to offer retirement income solutions could spawn intra-fund strategies that test the existing boundaries of advice and guidance, an industry discussion has revealed. A group of superannuation funds within the country’s largest by assets raised the possibility that proper retirement solutions fit uncomfortably with the existing advice and guidance frameworks at Professional Planner’s parent Conexus Financial’s recent Retirement Conference. Funds currently take a conservative approach to the provision of intra fund advice because what constitutes financial advice is not clearly defined, but the work being done by policy makers and the funds themselves to clear the way for the government’s Retirement Income Covenant will likely open new pathways for advice within super, the conference delegates heard. ....
Quinn Rooney via Getty Images The number of confirmed COVID-19 cases spiked substantially in Michigan this month, causing the state s Occupational Safety and Health Administration to extend its emergency temporary standard to Oct. 14, 2021 one year to the day since it was issued. As of April 26, Michigan had a seven-day average of 5,423 new daily cases, the highest in the country after Florida, and an average of 68 deaths a day, the highest death rate in the country, according to data compiled by the New York Times. The combined category of construction and manufacturing ranks first in the state for most new coronavirus outbreaks, according to the state health department. ....