Retirement Income Review – Submission to Treasury
In 2019, the Productivity Commission released its report “Superannuation: Assessing Efficiency and Competitiveness”. Following this report, the Federal Government has now commissioned an independent “Retirement Income Review”. Read More
AFCA "look back" rules have dropped
Following a recommendation from the Royal Commission, the Australian Financial Complaints Authority (AFCA) has amended its rules to allow them to deal with "legacy complaints" lodged between 1 July 2019 and 30 June 2020. Read More
MySuper Insurance - TPD Standard Definition?
One of the recommendations of the Hayne Royal Commission was for Treasury to investigate whether to set standard definitions, terms and conditions for default MySuper group life insurance, including Total and Permanent Disability (TPD) insu... Read More
Life Insurance: Non-disclosure & the Royal Commission
One of the recommendations of the Financial Services Royal Commission that flew under the radar was the proposed amendment to the duty of disclosure and the remedy for innocent non-disclosure in life insurance. Read More
Internal Dispute Resolution (IDR) complaint changes in the pipeline
Following the establishment of the new ombudsman scheme, the Australian Financial Complaints Authority (AFCA), ASIC decided to review its standards for internal dispute resolution (IDR) processes, RG 165, and called for submissions. Read More
Protecting Your Super - Mythbuster
The Senate Economics Legislation Committee report into the latest bill restricting default insurance in superannuation was released a few months ago and we've done some myth-busting. Read More