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Good financial planning finally has a value: 23% more in retirement
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Articles
A few screws loose?
Super & Retirement Question
The true measure of financial strength
Small Business & General Business Tax Break
Investment Markets Data - To 28th February 2009.
Super beyond the gloom
Why do companies care when their share price falls?
Reduction to minimum pension drawdowns for 2008/09.
Double-edged sword
Investment Market Data - to 31st January 2009.

Fed to use all tools to help US economy

Lessons learned the hard way

Superannuation Funds Allowed to Give Guidance

More cruel advantage in a troubled market
Investment Markets Data - To the 31st December 2008

Superannuation Funds Allowed to Give Guidance

As yet another repercussion of the global credit crisis, the rules regarding financial advice have changed.


 Australian Securities & Investments Commission has granted superannuation funds temporary relief (if they apply) to help members.

Until now a superannuation fund is not permitted to give any advice, but it can always provide information.

Now it can provide ‘guidance' as long as that is not advice.

The guidance is limited to explanations of types of investments, implications of rollovers and loss of benefits, tax and insurance consequences and reminders about the long-term nature of superannuation and return/violability characteristics.

Is that really much help to anyone in a panic? Unfortunately, funds and to a lesser extent advisers are constrained upon what can be said in a telephone conversation.

Further relaxing of rules is warranted.

 

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27th-January-2009

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