Industry News

Retirement income review submission to Treasury February 2020

Retirement Income Review – Submission to Treasury

Wednesday 26 Feb 2020

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  

Time limits for lodging legacy complaints with AFCA

AFCA "look back" rules have dropped

Tuesday 17 Dec 2019

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 TPD definitions

MySuper Insurance - TPD Standard Definition?

Monday 18 Nov 2019

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 Duty of Disclosure Changes

Life Insurance: Non-disclosure & the Royal Commission

Monday 04 Nov 2019

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  

Changes to IDR process RG 165

Internal Dispute Resolution (IDR) complaint changes in the pipeline

Thursday 26 Sep 2019

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  

Myths in the Protecting Your Super changes

Protecting Your Super - Mythbuster

Tuesday 03 Sep 2019

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  

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