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Monday, 24 January 2022
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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 YFYS annual performance test neither measures the return members achieve, nor adequately measures the risks a fund took in achieving the returns, yet it is likely to change the way funds behave.
Demand for homes is strong but prices are up sharply. Under the FHSS, a couple can access up to $100,000 from their super. Advisers and super funds are reporting a big increase in enquiries but how does it work?
The cumulative probability of underperformance is modelled at over 50% over 20 periods yet the YFYS test does not measure the suitability of a fund itself. It can destroy the viability of a fund.
At a recent industry panel, superannuation and funds management experts discussed the challenges facing the sector in 2021 and beyond. Investors should know what managers are thinking in growing their businesses.
With the Retirement Income Review now in Treasury's hands, will the 'fact base' establish whether large super funds do better than the share index? The public evidence is not impressive.
A summary of an important message on the vibe of future returns. Super balance calculations default to earnings rates of 7.5%, but that's in the past. Planning needs a more realistic view.
It's the vibe, but not much else. Super balance calculations default to earnings rates of 7.5%, but that's in the past. Global experts suggest financial plans are now dreaming at this level.
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.
The APRA MySuper heatmap uses a consistent methodology, and some funds come out badly. How will members and trustees react, and should APRA have sorted out the problems privately?
Although SMSFs are the largest segment of the $3 trillion super industry, the data on asset allocation is poor. There are signs the ATO is finally looking to fix its data collection.
Many large investors pay higher brokerage fees, hoping to gain favour with brokers to gain access to IPOs. Are rare IPO gains worth the loss of quality execution at the best price every day?
Most people entering retirement do not see a financial adviser, mainly due to cost. It's a major problem because there are small mistakes a retiree can make which are expensive and avoidable if a few tips were known.
Eligibility for the Commonwealth Seniors Health Card has no asset test and a relatively high income test. It's worth checking eligibility and the benefits of qualifying to save on the cost of medications.
The focus is on Magellan for its investment performance and departure of the CEO, but Douglass says the pandemic, inflation, rising rates and Middle East tensions have not played out. Vindication is always long term.
This is our annual checklist of what retirees need to be aware of in 2022. It is a long list of 25 items and not everything will apply to your situation. Run your eye over the benefits and entitlements.
The Warren Buffett/Charlie Munger partnership is the stuff of legends, but even Charlie admits it is coming to an end ("I'm nearly dead"). He is one of the few people in investing prepared to say what he thinks.
Depending on personal circumstances, it may be time to rethink the bias to paying down housing debt over wealth accumulation in super. Do the sums and ask these four questions to plan for your future.