42 research outputs found
Broken promises : solvency issues for defined benefit superannuation funds
No full textMembers of defined benefit superannuation funds face risks arising from underfunding of benefits by employers. In several countries (including USA, UK, Canada and Australia) fund members have suffered significant losses. Although each country has legislation which is supposed to protect the members, it has often proven inadequate. We outline a framework for assessing the minimum funding standards and solvency legislation, pointing to potential weaknesses. The Australian solvency legislation is critically assessed, revealing some serious weaknesses which may result in loss of benefits for Australian workers and their dependants.32 page(s
Someone Else's Problem: A Case Study in Regulatory Failure
No full textThere are always people who are willing to gamble with other peoples money for personal and ownership of an insurance company provides a wonderful opportunity to do so. Theoretically, there should be safeguards in place to prevent this: legislative restrictions, solvency requirements, regulatory oversight, accounting and actuarial standards, rating agencies, etc. This paper looks at one case study where these safeguards were spectacularly ineffective
Case Study of the dangers of Inter-Affiliate Transactions : Monarch Life Insurance Company
No full text3 page(s
Matters relating to 2005 enforceable undertakings by APRA against AXA Staff Superfund trustee/directors (subsequently overturned by Federal Court)
No full text
