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The Australian Financial Complaints Authority or AFCA is an external dispute resolution (EDR) company for consumers who are unable to resolve complaints with member financial services organisations. [ 1] It is operated as a not-for-profit company limited by guarantee and was authorised in 2018 by the then Minister for Revenue and Financial ...
Superannuation in Australia, or " super ", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages.
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, also known as the Banking Royal Commission and the Hayne Royal Commission, was a royal commission established on 14 December 2017 by the Australian government pursuant to the Royal Commissions Act 1902 to inquire into and report on misconduct in the banking, superannuation, and financial ...
The by-election campaign was quite unusual, with a total of 10 candidates nominating. A local car salesperson, Betty Byrne Henderson, won National Party preselection and campaigned on the slogan "Send a Message to Canberra". However, most of the campaign's attention was on Queensland issues—in particular the daily revelations from the ...
In 2012, First State Super merged with Health Super, a not‐for‐profit superannuation fund for workers in the health and community services sector. At the time the merger meant the combined entity was the third largest superannuation fund in Australia. [5] In 2016, First State Super acquired StatePlus for $1.1bn to boost its advice offering.
Those come to a roughly 8% annual increase in your benefit each year until you hit 70 when the credits stop accruing. If you were born in 1960 or later, you’ll receive about 70% of your ...
History. The Superannuation Complaints Tribunal was established under the Superannuation (Resolution of Complaints) Act in 1993. It was established at the same time as a new prudential and disclosure framework was put in place under the Superannuation Industry (Supervision) Act 1993, protecting employees compulsory superannuation contributions ...
A profits interest gives an employee a share of upside in a deal or basket of deals. So if the family office buys a private company for $10 million and sells it for $15 million, the employee may ...