The document contains summaries of multiple news articles related to the superannuation industry in Australia. It discusses the following key points: - The ATO released its quarterly report on self-managed superannuation funds (SMSFs), finding there are over 557,000 SMSFs with total assets of $590 billion, both figures increasing by around 6% since last year. - New legislation has increased the threshold for lost superannuation being transferred to the ATO from $2,000 to $4,000 in 2016 and $6,000 in 2017, which is estimated to bring in additional tax revenue but claimed to prevent super balances being eroded by fees. - The superannuation industry

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SMSF QUARTERLY STATISTICS
The ATO has released its
quarterly self-managed
superannuation fund (SMSF)
statistical report for June 2015.
According to the report, there
are estimated to be more than
557,000 SMSFs with total assets
of $590 billion. Both the number
of funds and their combined
assets have increased by
roughly six per cent since June
2014.
Source: ATO
LOST SUPERANNUATION
New Federal Parliament
legislation has led to an
increase to the lost super
threshold, from $2,000 to $4,000
from 1 January 2016. The
threshold will increase further to
$6,000 from 1 January 2017.
Increasing the threshold at
which lost super is transferred to
the ATO is estimated to bring
the Federal Budget an
additional $483.9 million over
the four year forward estimates.
Both the Government and the
Opposition claim the purpose of
the changes is to stop
superannuation balances being
eroded by fees.
Once transferred, the ATO pays
interest on the balances at CPI.
Source: SolePurposeTest Blog
CABINET ANNOUNCEMENT
The superannuation industry has
broadly welcomed the
elevation of the Assistant
Treasurer's role from the outer
ministry to an inner-Cabinet
position.
Australian Institute of
Superannuation Trustees (AIST)
chief executive, Tom Garcia,
welcomed the fact that
superannuation now effectively
had a seat at the Cabinet
table, stating:
"Elevating the financial services
portfolio to Cabinet recognises
the key role superannuation
plays in the Australian
economy."
Source: SuperReview
ESG UPDATES
Funds worth $3.3 trillion have
divested from fossil fuel only in
the last year, with a well-
coordinated global movement
now targeting Australia's
superannuation funds.
Go Fossil Free, a divestment
campaign led by global
climate movement 350, has
increased its presence in
Australia over the last year and
is actively targeting super funds
and the big four banks.
Campaigners have set up a
website, Super Switch, where
members can check their super
fund's exposure to fossil fuels
and switch to a greener one.
The divestment campaign
started in July 2013, at first
focusing on small institutions. But
over the last year the global
divestment movement has
gained momentum on the
back of falling coal prices and
the effects of climate change
being felt all over the world.
Source: Financial Standard
INDUSTRY VS RETAIL
Consumers do not seem to
know the difference between
industry and retail funds and
are turning to Google to find
out, according to a CANSTAR
analysis.
The analysis of 77,000 visitors
that actively searched for
specific superannuation funds
found the other hot topics for
consumers were super fees and
life insurance within super.
"Given the amount of effort
fund groups spend promoting
their product offerings and
structures, it seems there are still
many workers unsure of the
difference between the two,"
said CANSTAR wealth manager,
Paul O'Connor.
Source: SuperReview
INDUSTRY APPOINTMENT
Industry fund Sunsuper has
appointed former Queensland
treasurer Andrew Fraser as a
director to its board.
Source: InvestorDaily
SuperBrief Independent & Concise
Issue #38 of 2015: Friday, 25th
September