SMSF Association measures adopted in positive Budget for SMSFs

11 May 2021 SMSF Association Media Release The SMSF Association has applauded measures in this year’s Federal Budget that aim to reduce complexity and make it easier for older Australians to top up their superannuation. Commenting on the Federal Budget that was handed down this evening by Treasurer Josh Frydenberg, SMSF Association CEO, John Maroney,…

Government urged to use Budget to reduce super complexity

02 February 2021 SMSF Association Media Release The Federal Government is being urged to use the 2021-22 Budget to reduce complexity in the retirement income system. In its submission, the SMSF Association says the Retirement Income Review found that the system was “complex and hard to navigate” – a finding that the Association agrees with. SMSF…

Regulatory system for financial advice failing consumers

20 January 2021 SMSF Association Media Release The SMSF Association says the current regulatory system is failing consumers with an outdated compliance regime, impost from Australian Financial Services Licensees (AFSLs) and the operation of scaled advice the main barriers to providing financial advice that is more accessible, cost-effective and relevant to SMSFs. Association CEO John…

Overhaul of legacy pensions gets thumbs up

13 January 2021 SMSF Association Media Release The SMSF Association welcomes the announcement in the Federal Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) that will allow the partial commutation of certain non-commutable pensions. SMSF Association Deputy CEO / Director of Policy & Education Peter Burgess says: “We have long advocated the modernisation of these pensions…

Why are SMSF and retail investors missing out on ASX capital raisings during COVID-19?

27 November 2020 SMSF Association Media Release Retail and self-managed super funds often lose out when listed companies raise capital, and the regulatory framework overseeing equity capital needs to be reformed to remove this anomaly in the capital markets, says SMSF Association CEO John Maroney. Maroney, who was participating in a virtual forum examining the…

Survey sheds new insights on why individuals set up SMSFs

25 November 2020 SMSF Association Media Release An SMSF Association survey of nearly 800 SMSF trustees finds individuals are motivated by far more than costs or investment returns when deciding to establish a self-managed super fund. SMSF Association CEO John Maroney says: “The long-standing debate when comparing an APRA-regulated fund with an SMSF is typically…

Rice Warner research throws fresh light on SMSF costs

23 November 2020 SMSF Association Media Release A research report by the actuarial firm Rice Warner offers clear guidance to existing and potential self-managed super fund (SMSF) members whether this form of superannuation could be cost-effective and the right retirement savings vehicle for them. SMSF Association CEO John Maroney says the very important decision of…

Retirement Income Review throws welcome light on superannuation

20 November 2020 SMSF Association Media Release The SMSF Association welcomes the Retirement Income Review – a significant report that will provide policy evidence for the superannuation industry for many years to come. Association CEO John Maroney says it’s reassuring to the industry, and self-managed super funds in particular, that the Review has found the…

ASIC Paper on affordable advice ‘a welcomed initiative’

17 November 2020 SMSF Association Media Release The SMSF Association welcomes the release of ASIC’s Consultation Paper, “Promoting access to affordable advice for consumers”, believing it to be an important step forward in addressing the vexed issue of consumers having access to quality financial advice in a cost-effective way. Association CEO John Maroney says: “It’s…

Ground-breaking Rice Warner report to launch SMSF Week

11 November 2020 SMSF Association Media Release The SMSF Association’s SMSF Week, to be held virtually from 23-27 November, will launch a ground-breaking report by the actuarial firm Rice Warner about the costs of running an SMSF. The SMSF Association CEO John Maroney says: “In the face of ongoing public debate about the appropriate minimum…