Superannuation

AUSTRALIA - Australia's retirement savings gap grew from A$695bn ($879bn) in 2008 to A$897bn in 2009, latest figures show.

AUSTRALIA - Superannuation funds First State Super and Health Super have confirmed plans to merge to create one A$28bn ($27.6bn) scheme, one of the largest in the country.

AUSTRALIA - Superannuation fund members with multiple employers who breach contribution caps are being unfairly penalised, an industry body warns.

AUSTRALIA - Common data standards for the superannuation industry should be legally enforceable through the establishment of a "Super Council", Cooper review chairman Jeremy Cooper says.

The £1.4bn Superannuation Arrangements of the University of London pension fund is looking at changing its benefits structure, PP has learned.

AUSTRALIA - Almost two thirds of Australian workers believe plans to increase the Superannuation Guarantee (SG) should be implemented sooner than the government intends, research suggests.

AUSTRALIA - The chief executives of nine superannuation funds and investment management firms have formed a new panel to address climate change.

AUSTRALIA - Bi-partisan consensus on superannuation policy must be achieved to give Australian workers confidence in their retirement savings, the Association of Superannuation Funds of Australia (AFSA) said.

AUSTRALIA - Industry fund members are more likely to be satisfied with their superannuation than members of retail master trusts, research shows.

AUSTRALIA - The governance benchmark for superannuation trustees should be higher than that of listed companies, the Association of Superannuation Funds of Australia believes.