The Australian Governemnt is offering a FREE Superannuation Clearing House (SCH) service to small businesses with less than 20 employees. This clearing house is administered by Medicare Australia and lets employers pay their super contributions to a single location in one simple electronic transaction. (read more)
APRA releases quarterly superannuation statistics for June 2010 - 9 September 2010
The Australian Prudential Regulation Authority (APRA) released its June 2010 Quarterly Superannuation Performance publication. It shows total assets fell by $31.3 billion (2.5 per cent) during the June quarter. However, over the 12 months to 30 June 2010, total assets rose by $151.9 billion (14.1 per cent) to a total of $1.23 trillion.
Many retirees can breathe a small sigh of relief as the federal government has announced a decision to extend reduced payment requirements on account based pensions for another year. (read more)