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Posted on Dec 23, 2016

What will governments look like in 2020 according to Deloitte’s Gov2020 report

What will governments look like in 2020 according to Deloitte’s Gov2020 report

What will governments look like in 2020? Have a look at the Deloitte report Gov2020: Journey into the future of Government for some interesting insights into the drivers, mega shifts and trends. Apparently ageing, rapid urbanisation and the rise of a truly global citizen are some of the key drivers. There will be a mega shift in governments’ approach to service delivery with open data, crowd sourcing and the co-creation of services heralding a move to distributed governance. As for trends, a global shortage of skilled talent will see the need for more career-focused learning with unbundled, personalised and dynamic education the new norm.

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Posted on Dec 15, 2016

KPMG shows how the financial services industry is facing challenges right across the horizon

KPMG shows how the financial services industry is facing challenges right across the horizon

Billed as a must read for decision makers in financial services, this article from KPMG shows how the industry is facing challenges right across the horizon. In banking, balance sheet restructuring and higher capital requirements are having significant consequences. New standards for accounting and reporting are having a major impact on the insurance industry, while technological developments are driving changes in the demand for financial services at an ever-faster rate, with service provision having to keep pace.

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Posted on Dec 7, 2016

Employers not paying super better watch out as Industry Super Australia is on the warpath

Employers not paying super better watch out as Industry Super Australia is on the warpath

Employers not paying super better watch out as Industry Super Australia is on the warpath. It is encouraging people who’ve missed out on super to share their stories with a newly established parliamentary inquiry. Employers are required by law to contribute 9.5 per cent in super towards every employee over the age of 18 earning more than $450 a month, yet millions of Australians are missing out on their entitlements. For more go to http://bit.ly/2hg4QdE

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Posted on Nov 29, 2016

The Government’s superannuation tax changes are complex and with complexity comes risk, Pitcher Partners

The Government’s superannuation tax changes are complex and with complexity comes risk that inadvertent errors or mistakes may result in tax penalties or non-compliance. Pitcher Partners provides a handy overview covering the effects of the new rules on the pension gap, CGT relief, transition to retirement pensions, defined benefit pensions and the impact of pension changes. There’s also a useful list of commonly asked questions. It’s clear though that financial advisors have a lot of reading to do. For more go to http://bit.ly/1RKZe25

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Posted on Nov 23, 2016

How consumers can switch from underperforming superfunds, Financial Services Council

A market-based superannuation model with improved consumer protections and the employer option of a default MySuper would promote consumer engagement, allows consumers to switch from underperforming funds, and retain a safety net through an enhanced APRA MySuper. So says the Financial Services Council in its submission to the Productivity Commission’s Issues Paper on Alternative Default Models in the super industry. For more go to http://bit.ly/1RKZe25

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Posted on Nov 2, 2016

KPMG fintech report says 90% of top 50 ventures challenge traditional business models

But wait, more disruption in fintech: The 2016 Fintech 100 demonstrates the acceleration of the disruption taking place in the global financial services industry.  More capital than ever is being invested around the world in start-ups and established ventures creating new financial products and solutions. The KPMG reports reveals more than 90% of the top 50 ventures challenge incumbents or traditional business models.

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Posted on Oct 11, 2016

Productivity Commission should give consumers a choice in super, Financial Services Council

The Productivity Commission will issue its final report next month on how to improve super and the system governing how employers choose a default super fund for their workers. In part 3 of our coverage, the Financial Services Council CEO Sally Loane says consumers should be allowed to choose a superfund on merit, not whether a trade union and the industry fund it owns has coverage over an industrial award. For more go to http://bit.ly/2dZc28r

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Posted on Oct 4, 2016

ASFA says initiatives like MySuper provides disengaged employees with good default arrangements

MySuper provides ‘safety net’: The Productivity Commission issues paper calls for feedback on how to improve the system governing how employers chose a default super fund for their workers. In part two on default superfunds, we canvass the views of ASFA which says in its submission that MySuper provides disengaged employees with good default arrangements that are a “strength of the system, not a weakness”.  For more go to http://bit.ly/2cLW84V

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Posted on Sep 27, 2016

Industry Super Australia wants the default super fund safety net expanded

Industry Super Australia and default super fund: The Productivity Commission issues paper calls for feedback on how to improve the system governing how employers choose a default super fund for their workers. Some say the issues paper could break the strangle-hold of union-backed industry super funds over the industry through their default fund status.  This week we cover Industry Super Australia as it urges the commission to expand the default super safety net. For more go to http://bit.ly/2cyULGJ

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Posted on Sep 13, 2016

KPMG Paul Howes comments on Govt’s draft superannuation legislation

Superannuation is on the national agenda with comments from all quarters on the Government’s draft legislation. Last week we featured The Grattan Institute – see http://bit.ly/2cGVJ4A.  This week we look at comments from KPMG’s Paul Howes. Howe says super is meant to help a person’s retirement, not for unlimited wealth accumulation. He says the new Low Income Superannuation Tax Offset warrants bi-partisan support as it helps women – invariably disadvantaged within the current system. For more go to http://bit.ly/1RKZe25

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