DFK Australia New Zealand Limited (DFKANZ)’s Post

We are pleased to announce the publication of our Annual Report for the year ending 31 March 2024, marking significant progress in delivering pooling, investing in the UK, and embracing diversity. Key Highlights: Asset Growth: Assets under stewardship have grown to £29.9 billion Cost Savings: Achieved breakeven on investment cost savings for Partner Funds with cumulative net savings at £15.5 million, with an improved projection to achieve £339.1 million by 2033/34 Investing in the UK: £5.2 billion of assets are invested in the UK, including £593 million in UK private market investments. We are committed to supporting the UK economy and have over £2 billion of committed funds ready for further investments Diversity & Inclusion: We continue to champion diversity with 45% of employees from minority ethnic backgrounds and 37% female representation. Responsible Investment: Our dedication to responsible investment is underscored by 5-star PRI scores in 5 out of 6 categories and over 80% in each section of the UN PRI Assessment Report Our commitment to our Partner Funds and their scheme members remains stronger than ever as we continue to focus on sustainable growth, innovative investment solutions, and fostering diversity and inclusion https://lnkd.in/ea3du3fk #pooling #Investment #Sustainability #DiversityAndInclusion #ResponsibleInvestment #Finance #AssetManagement #UKInvestments #Growth #LGPSCentral

The Atal Pension Yojana (APY) has surpassed an impressive 7 crore enrolments! 🎉 In just the financial year 2024-25 alone, over 56 lakh new members have joined this vital initiative. As we celebrate the 10th anniversary of the APY, it’s a testament to our collective efforts in building a universal social security system. This scheme is particularly significant for the poor and workers in the unorganised sector, providing them with a safety net for a secure financial future. As a Chartered Accountant Firm, We recognise the crucial role financial inclusion plays in empowering individuals and fostering economic growth. The APY not only enhances savings culture but also promotes long-term financial planning among our citizens. Let's continue to advocate for initiatives that strengthen our social security framework and support those in need. Together, we can build a more secure and prosperous future for all! 💪 #AtalPensionYojana #FinancialInclusion #SocialSecurity #CACommunity #Empowerment #FinancialPlanning

#HotoffthePress. Today, #SSA released the 2024 #OASDI Trustee's Report. Slight improvements from last year, but still within 10 years of a potential decline in OASI monthly benefits if congress fails to make necessary changes. Do I think that a reduction in monthly benefits to our seniors will occur? Doubtful. But do I see an increase in payroll taxes (and likely taxes generally) and/or benefit changes that could impact what some seniors keep in their pockets long-term? Yep. Either way, strategic planning for the what if's is essential now to mitigate these retirement risks. Summary of Changes for 2024: OASI Trust Fund - projected to pay in full until 2033 and then 79% (last year 2033/77%) OASDI Trust Fund - projected to pay in full until 2035 and then 83% (last year 2034/80%) DI Trust Fund - 100% through the projection period 2098 (last year 2097) HI Trust Fund - 100% through 2036 (last year through 2031) HLS Retirement Consulting, LLC https://lnkd.in/eqRjeFci

With female-led #SMSFs growing steadily since 2017, empowered by increased resources and workforce participation, women are taking charge of their financial futures. As Australia gears up for a monumental #intergenerational wealth transfer, women's roles in managing wealth are more crucial than ever. Learn how SMSFs are shaping the financial landscape and empowering women towards greater financial independence in our latest blog. Get in touch with our team of SMSF experts to understand our transparent fee structures, and stay up to date with the regulatory changes and SMSF investment options. #RetirementSavings #FinancialEquality #InvestingForWomen #WealthManagement #Superannuation #WealthTransfer #SMSFInvesting #RetirementPlanning

🚨 PENCOM Lifts Suspension on Commercial Paper Investments 🚨 The National Pension Commission (PenCom) has lifted restrictions on LPFAs investing in Commercial Papers (CPs) issued by non-bank capital market operators. What’s New? ✅ Only entities with a minimum credit rating of ‘A’ or strong guarantees are eligible. ✅ SEC’s new rules aim to enhance regulation and market stability. What This Means: ➡️ For Big Players: Easier access to capital. ➡️ For SMEs: Higher barriers due to stricter requirements. ➡️ For Investors: Safer pension fund investments but limited diversification. This move protects pension assets and stabilize the market in a sense, but SMEs risk being excluded, which raises concerns about inclusivity and economic equity. The CP market is barely a N1trn in size 🤷🏾♂️ What’s your take on this policy shift? #Invest2025 #PenCom🇳🇬 #PensionFunds

📢 Why NAPSA Compliance is a Must for Employers! 📢 As an employer in Zambia, it’s your responsibility to contribute to the National Pension Scheme Authority (NAPSA). Here's why compliance matters: 1️⃣ Employee Security: Your contributions secure a better future for your employees through pensions and benefits. 2️⃣ Legal Requirement: NAPSA compliance is mandatory. Non-compliance can result in penalties, fines, or legal action. 3️⃣ Business Credibility: Being compliant shows you care for your employees, enhancing your reputation as an employer of choice. 4️⃣ Workforce Motivation: Employees feel valued knowing their employer is investing in their future. 💡 Pro Tip: Make timely submissions to avoid interest on late payments. Need guidance on NAPSA compliance? Contact Level Field Consulting today – we’ll help you stay compliant and secure your workforce’s future. #NAPSA #ComplianceMatters #EmployerResponsibility #LevelFieldConsulting

THE PERFECT SUPER MODEL   The Royal Commission in 2018 was extremely expensive, but it did not result in the perfect service model for superannuation, as one might have expected. Approximately 170 recommendations were adopted by the government, leading to regulatory changes. However, these changes primarily focused on addressing mistakes made by the financial services industry.   As someone who has specialised in superannuation within the financial services industry for over 30 years, it is evident that the Royal Commission missed the opportunity to improve super outcomes for all Australians by addressing the shortcomings within the existing service models.   Some of the key items overlooked are:   ·      Ensuring all participating products have precise functionality in recording account balances.  ·      Demanding all participating products to openly explain their unique value proposition and clarify what they do not do.  ·      Requiring all participating products to provide a minimum range of asset classes for investment.  ·      Mandating that all other super service providers that provide input and advice should not have conflicts of interest.  ·      Directing all other super service providers to explain their unique value proposition and point of difference.   Perhaps there was a reason for this?   Got questions?   Phone: 1800 111 299 Email: consulting@axisfg.com.au   Web: www.axisfg.com.au   #superannuation #employeebenefits #hr #remunerationbenefits #employeeengagement

#EPFO #EMPLOYEEBENIFITS #COMPLAINCE #GROWKNOWLEDGE #FAMILYBENIFITS Benefits of EPFO (Employees' Provident Fund Organisation): *Employee Benefits:* 1. Retirement Savings: EPF helps employees save for retirement. 2. Social Security: Provides financial security to employees and their families. 3. Pension: Eligible employees receive pension benefits. 4. Insurance: EPFO offers life insurance coverage (EDLI). 5. Housing Loan: Employees can avail housing loans from EPF. *Financial Benefits:* 1. Compound Interest: Earns compound interest on contributions. 2. Tax Benefits: Contributions and interest are tax-free. 3. Withdrawal: Partial withdrawal allowed for specific purposes (e.g., education, marriage). 4. Loan Facility: Employees can take loans from EPF for emergencies. *Family Benefits:* 1. Family Pension: Dependents receive pension in case of employee's demise. 2. Nomination: Employees can nominate beneficiaries. 3. Children's Education: Financial assistance for children's education. *Other Benefits:* 1. Job Portability: EPF account remains same across jobs. 2. Online Services: Easy online access to EPF account. 3. Transfer Facility: Seamless transfer of EPF balance. 4. Grievance Redressal: EPFO resolves employee grievances. *Employer Benefits:* 1. Compliance: Simplifies compliance with labor laws. 2. Reduced Liability: Employers' liability decreases. 3. Tax Benefits: Employers' contributions are tax-deductible. 4. Attracting Talent: EPF benefits attract skilled employees. *Government Benefits:* 1. Subsidies: Government contributes to EPF for low-income employees. 2. Administrative Support: Government ensures EPFO's smooth functioning. EPFO provides a comprehensive social security framework for employees, ensuring financial stability and peace of mind.

Good governance is critical to the future of Australia’s superannuation system and there is no legislative impediment to employer groups and unions nominating directors from outside their organisations. Read an opinion piece here from our AICD CEO Mark Rigotti, published in the Australian Financial Review: https://bit.ly/41vmkYN #Governance #Superannuation #AFR

Leading up to the End of Financial Year, Selwyn begins our series of videos covering all things Superannuation #Investmentfundamentals #financialliteracy #discoverywealthadvisers #EOFY2024 #Superannuation