Markets

Australian banks underperform with your super

Stockspot, a fintech automated investment adviser, has released its 2016 Fat Cat Funds Report, revealing Australia’s underperforming superannuation and managed funds. The report analyses 3,820 funds, highlighting high fees, poor transparency and conflicts of interest in Australia’s investment industry and the impact on long-term savings. “We estimate one in 20 […]
Australian banks underperform with your super
Markets

Mike Cannon-Brookes just led an investment into a ‘super fund for millennials’ — and plans to put his own retirement savings in it

Co-founder of Atlassian, Mike Cannon-Brookes, has invested in a new technology-focused superannuation fund for millennials, and says he will switch his own super into it. Spaceship is a super fund that will invest heavily in big-name technology stocks such as Apple, Google, Facebook, Amazon and Microsoft — rather than the […]
Mike Cannon-Brookes just led an investment into a ‘super fund for millennials’ — and plans to put his own retirement savings in it
News

Super contributions have slumped since the government’s budget changes

Nervous members of self managed superannuation funds (SMSF) have significantly cut back on contributions since the federal government announced major changes in the May budget. The average contribution fell 38% in June quarter to $10,748 compared to $17,320 in the same three months the year before. This was the lowest […]
Super contributions have slumped since the government’s budget changes
Markets

3 things you probably didn’t know about SMSFs

Self Managed Super Funds – or SMSFs – is a term that is slowly catching on with people as they realise just how much money they’re accumulating into super. Because the younger generations are going to be earning superannuation through their entire working lives, many of them are going to […]
3 things you probably didn’t know about SMSFs
Markets

CHART: The sorry state of returns from superannuation funds this year

Most superannuation accounts will have staggered, exhausted to the end of the 2016 financial year with a slightly positive result. Median balanced accounts — those with exposure of between 60% and 76% to growth assets — where up to 70% of Australians have their money, will have gained only about […]
CHART: The sorry state of returns from superannuation funds this year
News

CHART: The golden age of self managed super funds is over

The amazing growth in the assets held by self managed superannuation funds in Australia is about stall following changes to the superannuation system made in the federal budget last month. Hasan S Tevfik, an analyst at Credit Suisse who closely tracks the fortunes of what he calls “selfies”, says the […]
CHART: The golden age of self managed super funds is over
News

CHART: Older women will feel the pain from the latest super changes

Women aged 50 and older are being penalised the most from the federal government’s superannuation changes announced in the budget, according to analysis by the National Centre for Social and Economic Modelling (NATSEM). The budget cut the pre-tax amount which can be put into super to $25,000 from $35,000 for […]
CHART: Older women will feel the pain from the latest super changes
News

LEAKED MEMO: The Turnbull government was ready for a fight over super changes

The federal government was bracing for a wave of complaints and concerns over its larger-than-expected cut to superannuation tax concessions in the budget, according to an internal Australian Taxation Office memo. The leaked memo, sent in the week before the May 3 budget, tells Tax Office staff that the Treasury […]
LEAKED MEMO: The Turnbull government was ready for a fight over super changes
News

Why claims the Budget is making ‘retrospective’ changes to super are rubbish

In his budget reply speech this week, Opposition leader Bill Shorten said Labor had “very grave concerns about retrospective changes” to superannuation being proposed by the government. The superannuation industry has been even more vociferous. But labelling the changes as “retrospective” in this case is a furphy. For a decade, […]
Why claims the Budget is making ‘retrospective’ changes to super are rubbish
Markets

CREDIT SUISSE: The budget is bad for the share market

The budget changes to superannuation may have an unintended consequence for Australian shares. Analysts at Credit Suisse – known for their expertise in understanding self-managed super funds – say the budget measures will mean fewer dollars flowing to Australian equities. Adjustments to superannuation concessions announced in the budget will bring […]
CREDIT SUISSE: The budget is bad for the share market
Markets

GLENN STEVENS: Low interest rates will ruin your retirement

RBA governor Glenn Stevens this week joined the CEO of the world’s biggest investment firm, Blackrock, in saying that ultra-low global interest rates are causing problems for people’s retirement planning. That in turn, Larry Fink said, was part of the reason why global growth was not responding to low interest […]
GLENN STEVENS: Low interest rates will ruin your retirement
Markets

CREDIT SUISSE: How to take advantage of Australia’s gummy bear rally

Superannuation funds are going backward along with the Australian share market. However the dividend flows starting from the end of this month following the earnings season should ease the pain a little. Self-managed superannuation funds, which control about 17% of the Australian equity market, will get a record dividend haul […]
CREDIT SUISSE: How to take advantage of Australia’s gummy bear rally
Markets

Retirement savings have gone backwards for a fifth month

The value of superannuation funds are being shrunk by a volatile Australian share market. The median balanced option, held my most Australians, was down 0.5% in February, the fifth negative month of the financial year, according to analysts SuperRatings. So far this year, funds are down 1.6% and SuperRatings says […]
Retirement savings have gone backwards for a fifth month
News

Scott Morrison will cut superannuation tax concessions in his first budget

Tax concessions for superannuation will shaved in the May federal budget, treasurer Scott Morrison has confirmed. He told the Australian Financial Review Business Summit 2016 that superannuation was beginning to exceed its role in retirement savings. Morrison says the Coalition policy would be consistent with the definition that super should […]
Scott Morrison will cut superannuation tax concessions in his first budget
Markets

REPORT: Aussie superfunds look set for a half-year loss

Australian superannuation funds are set for a loss in the first half of the financial year, according to research prepared by SuperRatings. Low interest rates, the slowdown in China and falling commodity prices are the reasons given for the projected 0.5% loss for the six months to December. While the […]
REPORT: Aussie superfunds look set for a half-year loss
Markets

Five ways to pick the right super fund

A new study by independent research firm Rainmaker Information found recently that Australia’s four big banks collect one third of all fees – nearly $10 billion – paid to super funds. The research concluded that the superannuation industry was drawing an estimated $30 billion in fees in 2014/15, with a […]
Five ways to pick the right super fund
Markets

INFOGRAPHIC: Here’s Deloitte showing how negative gearing is not evil

Negative gearing is not evil, and superannuation benefits to Australia’s top earners need to be overhauled. That’s the message in the latest update of the Deloitte Access Economics series “Mythbusting Tax Reform” released this morning. The report, which looks at superannuation incentives, negative gearing and the discount on capital gains […]
INFOGRAPHIC: Here’s Deloitte showing how negative gearing is not evil