RETIREMENT INCOME – AUSTRALIA

Aussie John: end super tax perks to save us

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Original article by Jacob Greber, Samantha Hutchinson
The Australian Financial Review – Page: 1 & 6 : 23-Feb-15

Data from the Department of the Treasury suggests that superannuation tax concessions cost about $A30bn a year. There is a growing push for these tax breaks to be scaled back or abolished, particularly for people with significant savings. Aussie Home Loans founder John Symond suggests that some wealthy people may be exploiting the super system. The Association of Superannuation Funds of Australia has also urged action to address the issue in its pre-Budget submission

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSSIE HOME LOANS LIMITED, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, GRATTAN INSTITUTE, UNIVERSITY OF CANBERRA. NATIONAL CENTRE FOR SOCIAL AND ECONOMIC MODELLING

Challenger lifts interim dividend

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 18-Feb-15

Listed financial services group Challenger has posted a 2014-15 interim normalised net profit of $A155m, which is five per cent lower than previously. Assets under management rose by 17 per cent to $A57.2bn, and shareholders will receive an interim dividend of $A0.145 per share. Challenger aims for growth of 11-13 per cent in sales of its annuity products for 2014-15

CORPORATES
CHALLENGER LIMITED – ASX CGF, COLONIAL FIRST STATE GROUP LIMITED, VICSUPER PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIA. DEPT OF SOCIAL SERVICES

Super must do better for women: Corboy

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Original article by Sally Patten
The Australian Financial Review – Page: 16 : 16-Feb-15

The assets of the HESTA superannuation fund have increased from $A1.4bn to $A30bn during Anne-Marie Corboy’s 15-year tenure as CEO. The industry super fund for healthcare workers now boasts about 800,000 members. Meanwhile, Corboy says more action is needed to boost the retirement income of women, noting that the super system was not designed to take into account the fact that women typically spend more time out of the workforce than men. Corboy will retire in late February 2015

CORPORATES
HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, UTILITIES TRUST OF AUSTRALIA, NETBALL AUSTRALIA, MOTHERS DAY CLASSIC FOUNDATION

Home care costs to rise in ageing nation

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Original article by Nassim Khadem
The Australian Financial Review – Page: 15 : 14-Jan-15

A report produced by the Association of Superannuation Funds of Australia examines the estimated household budget that retirees will need for both a "modest" and "comfortable" lifestyle in retirement. It concludes that people in their 90s will generally need less income in retirement than those in their 70s, although most will also require a higher level of care in their home. More than 50 per cent of older retirees still live in their own home

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY

Change laws to boost women’s super: ASFA

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Original article by Nassim Khadem
The Australian Financial Review – Page: 24 : 13-Nov-14

It is estimated that men have an average of $A197,000 in their superannuation fund upon retirement, compared with just $A105,000 for women. The Association of Superannuation Funds of Australia (ASFA) has proposed relaxing discrimination laws to permit higher employer contributions to female employees’ super accounts. The ASFA also proposes scrapping the superannuation guarantee income threshold, which is currently set at $A450 per month

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, CHALLENGER LIMITED – ASX CGF, COLONIAL FIRST STATE GROUP LIMITED, VICSUPER PTY LTD, RICE WARNER ACTUARIES PTY LTD, AUSTRALIA. SEXUAL DISCRIMINATION COMMISSION

Reality of retirement will be ‘worrying’

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Original article by James Eyers
The Australian Financial Review – Page: 19 : 1-Oct-14

AMP CEO Craig Meller has warned of the looming problems in funding retirement for Australia’s ageing population. He said that the retirement outlook for millions of Australians was uncertain. He said that the superannuation guarantee should be increased to 12 per cent as saving 9.5 per cent of earnings is not enough. Meller said that the growing costs of retirement could threaten the country’s prosperity over the next 20 to 30 years

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH FINANCIAL PLANNING LIMITED, MACQUARIE GROUP LIMITED – ASX MQG