A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income.
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. NAB was ranked the world's 21st-largest bank measured by market capitalisation and 52nd-largest bank in the world as measured by total assets in 2019. As of January 2019, NAB operated 3,500 Bank@Post locations—including 7,000+ ATMs across Australia, New Zealand, and Asia—and served 9 million customers.
The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania, with about $8 trillion in global assets under management, as of January 13, 2021. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and ETFs, Vanguard offers brokerage services, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management. Along with BlackRock and State Street, Vanguard is considered to be one of the Big Three index fund managers that play a dominant role in corporate America.
The Australia and New Zealand Banking Group Limited (ANZ) is an Australian multinational banking and financial services company headquartered in Melbourne, Victoria. It is Australia's second-largest bank by assets and fourth-largest bank by market capitalisation.
The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's authority and scope are determined by the Australian Securities and Investments Commission Act 2001.
AMP is a financial services company in Australia and New Zealand providing superannuation and investment products, financial advice, and banking products including home loans and savings accounts. Its headquarters is in Sydney, Australia.
In Australia, superannuation is money invested in retirement pension benefit funds. Employers make compulsory contributions into these funds on behalf of their employees. Members can also make voluntary contributions subject to limits.
Suncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia. It is one of Australia's mid-size banks and its largest general insurance group, formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC).
Insignia Financial Ltd is an Australian financial services company that originated with the Independent Order of Odd Fellows and was formerly known as IOOF Holdings Ltd. It provides clients with a range of financial services including financial advice, investment management, superannuation and estate and trustee services. It is listed on the ASX 200.
Colonial First State (CFS), is an Australian wealth management group that provides investment, superannuation and retirement products to individuals and corporate and superannuation fund investors.
An industry superannuation fund is an Australian superannuation hello fund originally established to provide for the retirement of workers from a specific industry. While industry funds are no longer tied to specific industries, they remain not-for-profit, mutual funds which are membership-based and do not have shareholders. Industry super funds can be contrasted with retail super funds, which are public offer funds managed by financial institutions. Profits from retail funds are distributed to shareholders or investors, whereas industry funds return profits directly to members.
MLC was an Australian business that provides investments, insurance and superannuation solutions to corporate, institutional, and retail customers. Due to divestments in the early 21st century, there are now two businesses, with no ownership links, that both use "MLC" in their branding:
UBank is an Australian direct bank, that operates as a division of National Australia Bank (NAB). It was established in 2008, and provides savings products and home loans over the Internet and telephone.
Citigroup Pty Ltd was the Australian subsidiary of Citigroup. The bank operated consumer banking services, including credit cards, savings and transaction accounts, loans, insurance, and self-managed superannuation funds (SMSF), as well as private, corporate and investment banking, and wealth management.
ME Bank, also known as ME, is an Australian direct bank based in Melbourne. ME Bank no longer has branches in Sydney, Brisbane, Adelaide, Perth, Hobart, Canberra and Darwin. It became a subsidiary of Bank of Queensland in July 2021.
HelloWallet is an online and mobile application for employees founded by former Brookings Institution scholar Matt Fellowes and based in Washington, DC. It provides personalized financial guidance to members and relies on behavioral economics to incentivize workers to implement its advice.
ING Bank (Australia) Limited is a direct bank operating in Australia. It is a wholly owned subsidiary of the multinational Dutch bank, ING Group. ING Australia holds an Australian banking licence as a foreign subsidiary company.
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 services industry. The establishment of the commission followed revelations in the media of a culture of greed within several Australian financial institutions. A subsequent parliamentary inquiry recommended a royal commission, noting the lack of regulatory intervention by the relevant government authorities, and later revelations that financial institutions were involved in money laundering for drug syndicates, turned a blind eye to terrorism financing, and ignored statutory reporting responsibilities and impropriety in foreign exchange trading.
Talal Yassine is a Lebanese Australian businessman. He is the founder and managing director of Crescent Wealth, Australia's first Islamic wealth management company, that launched the country's first Islamic superannuation fund, the Crescent Wealth Superannuation Fund, and the country's first Islamic stock market index, the Thomson Reuters Crescent Wealth Islamic Australia index.
AMP Life is a superannuation, retirement investments and life insurance company based in Australia and New Zealand. It currently employs 1,000 people and manages $55 billion in funds for its 1.5 million customers. Its CEO is Megan Beer. The company was created by AMP Limited and is now owned by Resolution Life Australia, which in turn is part of the Bermuda-registered holding company, Resolution Life Group Holdings Ltd. AMP holds a 20% stake in the new company as the AMP leadership sees the ongoing relationship as being one of partnership. The AMP branding is expected to continue into the foreseeable future. The new business is being supported by AMP for a two-year period and all services commitments to customers remain unchanged.
