Stolen super returned to workers

More than half a billion dollars will be repaid to almost 400,000 Australian workers after 24,000 business admitted to underpaying staff. More than half a billion dollars in unpaid superannuation will be repaid to almost 400,000 Australian workers. Under the Federal Government’s superannuation guarantee amnesty, 24,000 businesses confessed to failing to pay employees their entitlements […]

Australian Prudential Regulation Authority says too many Australians remain in underperforming funds

The prudential regulator has warned too many Australians remain in underperforming super funds and are paying too much to do it. The prudential regulator has warned too many Australians remain in underperforming super funds despite it and the government putting poor nest eggs on notice. In a speech on Monday, Australian Prudential Regulation Authority deputy […]

RBA cuts interest rates to record low, some small lenders pass it on

The Reserve Bank has slashed interest rates to a record low of 0.1 per cent — but many banks have form for not passing it on to customers. The Reserve Bank of Australia has again slashed interest rates and taken other steps to try to alleviate COVID-19 economic pressures, but it could take weeks before […]