Hi There

At our July ASFA NSW Legislation Group meeting, we had a fascinating (and slightly terrifying) discussion on Death Benefits with our guest presenter, Simun Soljo, partner at Allens Linklaters and expert in financial regulations. He shared insights from the ASIC review and provided valuable guidance on the implications (of which there are MANY!) for trustees - find out more in our blog below.

Exciting news this week as the Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) Bill 2024 was introduced into parliament, aligning with the government's commitment to include Superannuation Guarantee (SG) contributions with parental leave payments - check out the latest articles, news, views and events below.

Cheers

Sarah

Mayflower CEO

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NEWS & VIEWS

Industry welcomes paid parental leave super contribution bill - Professional Planner

Super on parental leave bill hits parliament - Financial Standard

ASIC corporate plan targeting SMSF establishments - SMSF Adviser

How 2024 is shaping up for superannuation trustees - Financial Standard Super

Early release of super had little impact on financial wellbeing, research finds - Super Review

Superannuation returns recover to deliver real growth in the new financial year - The New Daily

$3m super tax still likely to be implemented in 2025 despite delays - SMSF Adviser

Play the ball not the man, or risk losing the game - Investment Magazine

Cost of 'comfortable retirement' increases again: ASFA - Financial Standard

Why super funds continue to brave volatile share markets - Investment Magazine

UPCOMING EVENTS

2024 ASFA Investment Summit - 3-5 September 2024. Rydges Hotel, Newcastle. Register here. SP - is anyone going? Would love to know what it's like?

ASFA NSW Legislation Discussion Group Webinar - Jocelyn Furlan will be presenting on Dispute Resolution. Monday, 9 September 2024 at 1-2pm. Register here.

CREW Webinar - Marketing of Financial Products and Services with Kathryn Ginns, Executive Director of Compliance at Source, and Julie Hartley, Senior Associate at Hamilton Locke - 11 September 2024 - 1-2pm. Women only - sorry blokes. Register here.

Women in Finance Awards 2024 - 15 November 2024 - Hyatt Regency, Sydney. Register here.

ASFA Conference - 19-21 November 2024. ICC Sydney. Register here.

SUPERANNUATION DEATH BENEFITS

ASIC review reveals inadequacies in communications around death benefits.

ASIC's review serves as a valuable opportunity for funds to enhance their communication of crucial information to members regarding the death benefits process. Implementing proactive measures now can help funds steer clear of member discontent and regulatory repercussions. Read more in our latest blog here.

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In the spirit of reconciliation Mayflower Consulting acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past, present and future and extend that respect to all Aboriginal and Torres Strait Islander peoples today. Always was, always will be Aboriginal land.