Harrison Worley

After COVID-19 put paid to the 2020 return hopes of superannuation funds, research house Rice Warner has questioned whether return targets should be lowered. Rice Warner has questioned whether superannuation return targets should be lowered. As the world faces its deepest recession in 90 years, JANA has said that while some super funds  have reduced their target returns, most still believe the can achieve similar long-term results (relative to inflation) as they did in the past.

An $8.5 billion industry superannuation fund is increasing the cost of insurance premiums paid by members. Australian Catholic Superannuation and Retirement Fund is upping the cost of its death and total and permanent disablement unitised cover as it tries to manage the tension between more claims and less insured members of the fund.

The corporate regulator refused just 3% of Australian financial services licence relief applications in the six month period that saw COVID-19 intensify. Outlining the regulator's relief application decisions in the six month period between October 2019 and March 2020, ASIC report 664 reveals most AFS licensing relief applications were approved as COVID-19 began to impact the financial services industry.