Rod Myer

Melbourne

Editor at The New Daily

Business and Sustainability Writer at Freelance

Journalist and writer, poet and biographer

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Articles

How the ATO helps business people build super

Oct 6, 2024 | thenewdaily.com.au | Rod Myer

When you’re working for a boss building your superannuation balance is something often you don’t have to think about with the super guarantee being paid just like your wages. But for those in small business who often invest all their cash to maintain and grow their operations, super can often seem like a bridge too far to deal with. But a series of concessional tax arrangements for small businesses can be used to build up super balances for their owners.
Superannuation megafunds come to dominate the market

Sep 28, 2024 | thenewdaily.com.au | Rod Myer

The superannuation sector is becoming dominated by a small number of megafunds that are presenting some difficulties for efficient funds management, Morningstar research reveals. At the top of the tree are AustralianSuper and Australian Retirement Trust, which have drawn away from the field with a combined $627 billion between them at last count. Looking at official figures in June 2023, the two were investing 23.9 per cent of the money in APRA regulated super funds.
How hitting 60 delivers new possibilities in building superannuation

Sep 21, 2024 | thenewdaily.com.au | Rod Myer

For many people superannuation has been a secondary objective for most of their working lives, with paying down mortgages and the costs associated with raising a family taking precedence through necessity. That is all very understandable, but it can leave you with the feeling that you should have saved more through super as you approach retirement. If you are in that situation then there are some strategies that you can employ to help, particularly as you hit 60.
Australia's biggest pension funds perform well among global peers

Sep 16, 2024 | thenewdaily.com.au | Rod Myer

Australia’s superannuation industry is growing on the world stage, with 17 of the country’s not-for-profit super funds now in the top 300 globally. That news comes from the Thinking Ahead Institute’s Global Top 300 Pension Fund report published on September 9. Industry heavyweight AustralianSuper with $US204.63 billion ($305.78 billion) under management is the country’s global star, rising two rungs on the ladder to be No.16 in the world.
APRA performance test finds no underperforming MySuper funds

Sep 10, 2024 | thenewdaily.com.au | Rod Myer

Close scrutiny of superannuation funds by APRA is paying dividends, with the regulator’s latest performance test revealing significant improvements for members. For the first time in 2024, APRA reported that in the crucial MySuper category, where 65 per cent of Australians have their superannuation, there were no underperforming funds with all products passing the test. This compares with one fail in that category in 2023, five fails in 2022 and 13 fails in the inaugural test in 2021.
Super withdrawals during COVID were not effective: research

Sep 1, 2024 | thenewdaily.com.au | Rod Myer

Back in the shocking days at the beginning of the Covid-19 crisis the federal government moved quickly to enable cash-strapped Australians to pay for the basic necessities of life. Those measures not only kept families and individuals afloat, they kept the economy alive. Now with more than four years since those actions were taken research group e61 Institute has looked at their efficacy and found that the controversial early release of superannuation was the least effective measure.
Superannuation returns now higher than June 30

Aug 24, 2024 | thenewdaily.com.au | Rod Myer

Superannuation fund members have seen their holdings bounce back from the stockmarket hits at the beginning of the month, with Chant West reporting median growth fund valuations now 1.4 per cent higher than at June 30. That would result in a fund valued at $150,000 on June 30 now being worth $152,100 just shy of two months later. The research group said July was a good month for superannuation.
Boost low income super balances with new tax proceeds-ASFA

Aug 18, 2024 | thenewdaily.com.au | Rod Myer

The Albanese government has committed itself to double the tax on superannuation balances of $3 million plus from July 2025 and the Association of Superannuation Funds of Australia (ASFA) wants to use the measure to help low-income earners. Under the government’s plan investment returns on $3 million-plus balances will result in a tax increase from 15 per cent to 30 per cent in a move Treasurer Jim Chalmers said will raise $2 billion.
Don't panic about super amid the stock market falls

Aug 10, 2024 | thenewdaily.com.au | Rod Myer

Stock exchange fear has hit the headlines in recent days, with scary reports highlighting market losses of “$100 billion” churning stomachs around the world. Those reports might trigger clicks and paper sales for media companies, but it is vital that you stand back from the fray, keep a clear head and ensure you serve your best interests by acting sensibly. Let’s look at what the markets have actually done first.
Actuaries want home equity for retirement

Jul 28, 2024 | thenewdaily.com.au | Rod Myer

Australian retirees should be able to utilise more of their home equity to provide for a more comfortable retirement, according to the Actuaries Institute. Retirement strategy group chair and Deloitte partner Andrew Boal says his research showed that retiree finances are by and large too slanted to property which denies useful retirement income.