Insurance in superannuation in the firing line

The Actuaries Institute has proposed revising the annual superannuation performance test, so it better aligns trustees' investments with the best financial interests of members.

Following on from the news that it would now be home to Spaceship Super, OneSuper will further bolster its funds under management through the transfer of another sub-plan, home to several super products.

Australians believe they need $1.6 million to be financially comfortable in retirement, a new survey from Colonial First State (CFS) finds, but they cannot agree on what living comfortably looks like.

Vanguard has endorsed the current performance test methodology in a submission to Treasury, championing its effectiveness in eliminating underperforming investment options and improving member outcomes.