The SMSF Professionals’ Association of Australia (SPAA) has reiterated its opposition to any form of structured compensation scheme for trustees running their own retirement savings vehicles.

The latest research into Australians’ thoughts about retirement has revealed close to one-third of those surveyed, 31.7 per cent, believed they would experience a large financial shortfall during that time of their lives.

Specialist SMSF administration service provider Class Super is launching a service that will allow all contributors to self-managed funds to be SuperStream compliant.

The Australian Securities and Investments Commission (ASIC) has frozen the assets of failed financial services group Charterhill owner George Novak and his wife, Betty Novak.

The federal government has made a commitment to reassess the superannuation contribution cap limits in order to lessen the instances of accidental breaches that lead to severe penalties for individuals.

The latest Association of Superannuation Funds of Australia (ASFA) data on superannuation adequacy has shown the level of savings that will allow people to lead a ‘comfortable’ lifestyle in retirement has risen.

The SMSF Professionals’ Association of Australia (SPAA) has launched an online networking facility for delegates at its upcoming national conference in Brisbane next month.

New products and services being developed and offered by industry and retail funds will not slow the popularity or growth of the SMSF sector in the coming years, particularly among retirees, according to a retirement savings expert.