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SUPER STATISTICS

The 2014/15 Superannuation

Benchmarking Study by

Engaged Marketing found

QSuper members to be the

most satisfied members of any

superannuation fund in the

country. The survey utilised the

Net Promoter Score framework

and survey more than 3,720

super members.

Source: Financial Standard

RETAIL SUPER FUNDS

Living Super, ING’s direct super

office reached $1 billion funds

under management (FUM) 2

years on from its initial launch.

Living Super allows members to

access their super online along

with their bank accounts, direct

investments and provides the

ability to purchase insurance.

Source: Super Review

MERGER

Quadrant Super and Tasplan

Super have formally agreed to

merge and will operate under

one entity form November 2015.

The consolidated enterprise will

have approximately 110,000

members, more than $3 billion

in funds under management

(FUM) and over 15,000

contributing employers.

Source: Investor Daily

MERGER

The AustralianSuper defined

benefit plan, consisting of

about 2000 members and

$700m will be managed by

Equipsuper, commencing in

2015. AustralianSuper has joined

the ever increasing trend of

industry super funds moving

away from defined benefit

schemes. AustralianSuper

executive Paul Schroder said

defined benefits remain

“increasingly complex and

expensive”.

Source: Investor Daily

OPINION

Behaviour economist Shlomo

Benartzi explained to the 2014

ASFA conference that the

deluge of information on super

fund websites could in fact turn

members from using that

website. Benartzi says “The

wealth of information creates

scarcity of whatever

information consumed”.

Source: Super Review

REGULATORY

ASIC has granted

RSEsincreased scope to provide

superannuation forecasts to

their membership base without

the need to hold an AFSL.

These forecasts will need to be

based on assumptions as set

out by ASIC and any age

pension estimates must be

accompanied by a disclaimer.

Source: Investor Daily

ASFA POLICY

The Association of

Superannuation Funds of

Australia (ASFA) recently

released its policy aimed at

bridging the $92,000

superannuation gender gap.

The policy consists of three key

elements; 1) Remove $450 a

month threshold for SG, 2)

Apply SG to all substantive

income replacement

payments, 3) Allow employers

to contribute more to women’s

super without breaching anti-

discrimination laws.

Source: ASFA

ASFA has also released a paper

for post-retirement system titled

‘A New Framework for a Better

System’ which, amongst other

initiatives, makes the case for

an opt-out MyPension product

for default members.

Source: ASFA

APPOINTMENTS

TAL Limited Managing Director

Jim Minto was re-elected as the

chair of the ASFA board at the

recent ASFA Annual General

Meeting. Also appointed to the

board was Chris Davies, Chief

Executive Officer of Telstra

Super as corporate fund

representative.

Source: ASFA

QMV SuperBrief Quick Superannuation Industry News

Issue #46 of 2014: Friday, 14th November