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25 January 2025
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The benefits in retirement come at the cost of consumption in prior years and this trade-off should be the focus in making reforms to super. Otherwise, the system will continue to benefit the rich at the expense of the poor.
The taxation of superannuation in Australia is complex, inequitable and subject to regular change. These features reduce the long-term confidence of Australians in their superannuation system. We should do better.
In FY22, what drove the strongest superannuation performers, and how does size of the fund, the level of risk or investments in unlisted assets affect the outcome? They are major challenges to performance tests.
Is bigger better for super funds? APRA certainly thinks so as it pushes for more mergers but what might members be losing from a more personal touch? Veteran journalist Greg Bright explains events at Media Super.
The investment performance of a typical SMSF improves as the fund balance approaches $200,000, after which the fund achieves comparable investment returns with APRA- regulated funds, according to new research.
Rather than compare results against APRA's benchmark, large super funds which failed the YFYS performance test are using another measure such as a CPI+ target, with more favourable results to show their members.
The Government has taken the next step towards encouraging retirees to live off their capital, and from 1 July 2022 will require super funds - even SMSFs - to address retirement income and protect longevity risk.
Superannuation funds need to establish a framework that offers retirees a retirement income solution that lasts a lifetime. It will challenge trustees to find a way to engage that their members understand and trust.
Fund performance varies over time. A fund may have strong capability and perform well over time, but it may fail the performance test at some point. The YFYS reforms create unwelcome and unintended consequences.
The Government's performance test in the 'Your Future, Your Super' proposals is likely to prove ineffective and generate undesirable outcomes. It will distort how funds are managed and confuse members.
If billions of dollars of retirement savings were lost by a government agency in a national super scheme, the cost and risk would be passed back to the government and ‘caveat emptor’ would be history.
Where once the name plates of exciting new fund managers proudly displayed, now there are blank spaces. What is happening in the industry that so many talented people are closing the doors?
The housing market was subdued in 2024, and pessimism abounds as we start the new year. 2025 is likely to be a tale of two halves, with interest rate cuts fuelling a resurgence in buyer demand in the second half of the year.
This examines the performance of key asset classes and sub-sectors in 2024 and over longer timeframes, and the lessons that can be drawn for constructing an investment portfolio for the next decade.
The renowned investor has penned his first investor letter for 2025 and it’s a ripper. He runs through what bubbles are, which ones he’s experienced, and whether today’s markets qualify as the third major bubble of this century.
Key lessons include expensive stocks can always get more expensive, Bitcoin is our tulip mania, follow the smart money, the young are coming with pitchforks on housing, and the importance of staying invested.
2024 was a banner year for equities, with a run-up in US tech stocks broadening into a global market rally, and the big question now is whether the good times can continue? History suggests optimism is warranted.
Check out the most-read Firstlinks articles from 2024. From '16 ASX stocks to buy and hold forever', to 'The best strategy to build income for life', and 'Where baby boomer wealth will end up', there's something for all.