Allens

Superannuation

Our experienced Superannuation legal team regularly publishes articles and updates - the full list of publications appears below. These publications provide a snapshot of the latest legislation, court cases, policy changes and contentious issues affecting superannuation. If you'd like to be notified when we add new superannuation publications to the site, please go to our subscription page to sign up for email alerts or, alternatively, you can subscribe to our RSS feed.

Read about Allens' track record in this dynamic area.

Superannuation Publications

  • Focus: CAMAC's 2014 discussion paper on managed investment schemes

    21 March 2014

    The Corporations and Markets Advisory Committee's discussion paper about the establishment and operation of managed investment schemes particularly examines governance, disclosure and regulatory issues. If the changes are implemented, it could profoundly affect these schemes. Partners Marc Kemp and Penny Nikoloudis and Lawyer Mark Boyagi outline the key changes suggested in the discussion paper.

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  • Client Update: FoFA Amendment Bill introduced into Parliament

    19 March 2014

    The Federal Government today introduced a Bill into Parliament to implement its proposed amendments to the Future of Financial Advice legislation. There are some significant differences between the Bill as introduced and the earlier exposure draft version released in January. The proposed reforms are intended to increase access to financial advice. There is a question as to whether the proposed reforms will achieve this and the effect they will have on the quality of advice. Senior Regulatory Counsel Michael Mathieson reports.

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  • Video: Superannuation reforms - the next steps

    11 March 2014

    The implementation of the Stronger Super and MySuper reforms is coming to an end. Allens Partner Geoff Sanders spoke to BRR Media about the issues still left to be resolved and what super funds need to be doing to make sure they are compliant.

    Watch
  • Focus: Superannuation portfolio holdings disclosure?- deferral and further consultation

    4 July 2013

    The first reporting day for the new portfolio holdings disclosure requirements has been deferred until 30 June 2014. In addition, Treasury will undertake further consultation about certain elements of the disclosure requirements, including whether a materiality threshold should apply. In the meantime, super fund trustees should continue to actively prepare for the new disclosure requirements. Although the first reporting day has been deferred, the supporting obligations that apply to certain persons who are involved in the investment of super fund assets have already commenced. Partner Geoff Sanders, Senior Associate Larissa Macpherson and Lawyer Shae Roberts report.

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  • Focus: Facilitating superannuation fund investment in Australian infrastructure

    27 September 2012

    The recent Infrastructure Finance Working Group report Infrastructure Finance and Funding Reform continues the ongoing discussion around increasing the level of superannuation investment in Australian infrastructure. While this has primarily focused on lowering the existing barriers to investment, the changing economic landscape also provides opportunities. In the first of a series of articles exploring the role of superannuation funds in funding Australia's infrastructure needs, Partners David Donnelly and Robert Clarke, Senior Associate Geoff Sanders and Lawyer Fiona Borrelli provide an overview of some of the key issues framing the discussion.

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  • Focus: Fiduciary duties of superannuation fund trustees

    10 August 2011

    The New South Wales Court of Appeal has recently confirmed that the fiduciary duties owed by the trustee of a superannuation fund under section 52(2)(b) and (c) of the Superannuation Industry Supervision Act 1993 (Cth) do not materially extend beyond the general law fiduciary duty to act in the best interests of fund members. Partner John Morgan, Senior Associate Simon Lewis and Lawyer Patricia Abordo report on a case where a member of a superannuation fund alleged that the fund's trustee breached its fiduciary duties by entering into an insurance policy that allegedly provided less advantageous disability benefits to him than those under the fund's previous policy

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  • Focus: Changes to deductibility of TPD insurance costs for superannuation funds

    22 June 2011

    Recent amendments to the Income Tax Assessment Act 1997 establish a simplified regime for regulated superannuation funds wishing to claim tax deductions for the cost of total and permanent disablement insurance for the 2011-12 and later income years. The scope of the current transitional relief that applies for the income years from 2004-05 to 2010-11 has also been expanded to cover self-insured funds. Partner Mark Cerche, Senior Associate Larissa Macpherson and Lawyer Brendan Wood report

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  • Focus: Government announces further financial advice reforms

    3 May 2011

    The Federal Government has announced further details regarding its proposed Future of Financial Advice reforms regarding the provision of simple, limited personal advice to superannuation fund members. There are also some noteworthy new elements to the reform package. Partner Mark Cerche, Senior Associates Larissa Macpherson and Geoff Sanders and Lawyer Brendan Wood report

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  • Audio: Long road ahead for MySuper

    13 July 2010

    The highly anticipated Cooper Review into superannuation was released last week. Partner Mark Cerche speaks to Boardroom Radio about the review's recommendations, including the MySuper default product, and what the next steps are in the Cooper Review process

    Listen
  • Focus: Super fund trustee's denial of total and permanent invalidity claim upheld

    10 June 2010

    The Court of Appeal of Victoria has upheld a superannuation fund trustee's decision rejecting a member's claim for total and permanent invalidity benefit, and considered the principles the courts apply when reviewing a trustee's decision. Partner Michael Quinlan and Lawyer Catherine Zahra report.

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  • Audio: MySuper goes back to the future

    23 April 2010

    The second preliminary report stemming from the Cooper Review was released this week. Partner Mark Cerche speaks to Boardroom Radio about the structural changes to the MySuper fund proposed by the report and what it means for fund trustees

    Listen
  • Focus: Superannuation fund trustee's obligations in total and permanent disablement claim

    1 December 2009

    Two recent New South Wales Supreme Court decisions, looking at a superannuation trustee's liability to pay interest and costs on the late payment of a total and permanent disablement benefit, have important ramifications for the appropriateness of a trustee conducting a vigorous defence of its conduct, the rate of interest to be applied when there is an alleged breach of trust, and when the trustee rate of interest should be applied. Partner Michael Quinlan and Lawyer Catherine Zahra report.

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  • Focus: Superannuation

    21 April 2005

    Employers will need to comply with the provisions of the new choice of superannuation fund legislation from 1 July this year. Senior Associate Lois Dannecker outlines some of the requirements

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  • Focus: Superannuation

    27 October 2004

    Employers and trustees of superannuation funds should make themselves aware of new superannuation legislation requirements, which aim to enable employees to choose the fund to which their employer is to make their compulsory contributions. Senior Associate Lois Dannecker reports

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  • Client Update: APRA guidance notes now finalised

    13 July 2004

    APRA has now released final versions of the Superannuation Safety legislation guidance notes

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  • Focus: Superannuation

    12 July 2004

    The purpose of the new Superannuation Safety Amendment Act 2004 is to strengthen the existing prudential framework in the superannuation industry. Trustees should make themselves aware of the new requirements, report Senior Associate Lois Dannecker and Lawyer Priya Sivakumaran

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  • Focus: Superannuation

    14 May 2004

    The Federal Treasurer is expected to release draft regulations shortly on two major retirement income stream reforms that were announced in February this year. One reform will encourage the introduction of new income stream products and create new opportunities for superannuation providers. The other will change current asset test exemptions and make existing products for complying income streams less attractive. Senior Associate Lois Dannecker looks at the proposed reforms

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  • Focus: Superannuation

    7 August 2003

    Lawyer Larissa Macpherson looks at the results of the appeal in the Asgard case, which held that trustees could not properly pay benefits at the direction of members

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  • Focus: Superannuation

    20 December 2002

    Amendments to the Family Law Act and related legislation that superannuation be treated as communal property, means that superannuation funds must play a formal part in the process of splitting superannuation benefits on the breakdown of a member's marriage, as Senior Associate Lois Dannecker explains

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  • Focus: Superannuation

    5 December 2002

    Partner Heather Gray looks at a recent Federal Court decision that considered whether trustees can pay benefits at the direction of members, rather than directly to the members themselves

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  • Focus: Superannuation

    15 April 2002

    Executives who come to Australia on temporary visas from overseas cannot currently access their accrued superannuation entitlements when they go home. But the situation is about to change, as Allens Arthur Robinson Partner Heather Gray explains

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