Industry Super Fund attempts to deny insurance payout

Superannuation customers urged to push for entitlements after grieving Bedford man’s payout drama David Johns  The West Australian   11 February 2019 A Bedford man has urged superannuation customers to not take no for an answer after his mother, who died from cancer, was denied both income protection and death benefit payouts. Tom Power-Craig’s mother Judith Craig switched…

Monopoly Capitalism

By Steve Blizard   13 Jan 2018 Vibrant competition is essential for a capitalist economic system to function effectively. However, we are witnessing the death of competition in industry after industry as global corporations increasingly gobble up their competitors. John D. Rockefeller, one of America’s first oligopolists, famously said “competition is a sin”. Within an oligopoly market structure, limited competition exists…

COMPARING SUPER FUNDS – What exactly is a balanced fund?

  Tim Farrelly | Portfolio Construction Forum | 14 December 2018 Australia’s largest super fund, Australian Super, would have us believe a balanced fund has 80% in growth assets, the industry euphemism for risky assets. The Vanguard Balanced Fund has a more cautious 50% in growth assets. At an extreme, the Host Plus Balanced fund…

Independent Financial Advisers benefiting from Royal Commission fallout

The Royal Commission has seen a distinct shift from bank-aligned financial planners towards independents, according to Adviser Ratings managing director, Angus Woods. Speaking on a panel at the Association of Superannuation Funds of Australia (ASFA) conference in Adelaide, Woods said that his company had noted an upturn in inquiries about financial platforms, with activity doubling…

Government Super Report reveals need for increased productivity

By Steve Blizard   10 June 2018 Over the past month there have been an unusually large number of articles about superannuation. So what is going on? On the 29 May, the Productivity Commission released a report that documents various flaws in the current $2.6 trillion compulsory superannuation system. Since 1991, the design of default based…

Federal budget 2018 – Life insurance premiums to rise 30pc under opt in

By Alice Uribe    Australian Financial Review  9 May 2018 Superannuation fund members might end up paying 30 percent more for their life insurance cover under the government’s sweeping plans to stop account erosion in the $2.5 trillion super sector. The federal government on Tuesday introduced measures that remove default life insurance for new superannuation fund members…