Targeted at “lower net worth individuals”, the Ilumony platform is primarily focused around providing advice on KiwiSaver account.
Stockspot has announced the closing of a $3 million Series B round which will be used to help build out its digital product and expand its user base.
MYOB has launched Advanced People, a new cloud payroll solution designed to help mid-market businesses manage their payments.
SavvyKiwi looks to help match savers to the right fund. It then keeps monitoring the fund to keep savers abreast of any issues or changes that they should be aware of and, if they choose to switch, helps them easily transfer to another fund.
New startup Spaceship is set to launch its mobile-only superannuation fund after receiving $1.6 million in funding led by Atlassian cofounder Mike Cannon-Brookes. The startup has a particular focus on enabling people to invest their super into technology-driven startups and companies.
Perth fintech startup Future Penny has today announced its first partnership with leading Australian and New Zealand employee benefits company Super-Advice. The newly formed relationship will help improve financial literacy for people in the ANZ region.
For many years, paying our employees’ superannuation was a complete nightmare. We spent several hours paying several different super funds with different logins and navigating different web forms only to come out the other side with less money in the bank and hours of our lives we will never get back. Not much fun and – quite frankly – a painful exercise all round.
Melbourne FinTech startup Clover, an automated investment advice platform, has announced the raising of a seed funding round by a number of investors including superannuation fund Equipsuper. Though the startup wasn’t willing to reveal the exact amount, Startup Daily was able to confirm that Clover raised over $1 million.
With support from AustralianSuper, StatewideSuper, HESTA and Hostplus Industry Super Funds, Brandon Capital has raised a total of AU$200 million, making the firm’s third Medical Research Commercialisation Fund (MRCF3) the largest ever life science venture fund in Australia.
As a business owner, you must ensure you are managing employer superannuation requirements for your team. This means ensuring that superannuation is paid to the relevant employees, that the right amount of superannuation is paid to them and that it is paid on time.
IQ Group today confirmed its support for the heavily revised APRA Superannuation Data Reporting standards, being launched Thursday 28 March. The proposed final standards, forms and instructions being unveiled are the result of extensive industry consultation and acknowledgement that these reporting standards should better align to industry practice. IQ Group expects to assist its Superannuation client base to meet these implementation requirements in the coming months.
What kind of a life do you hope to live when you retire? Do you hope to travel? Do want to own your own home? Do you want to take up hobbies and leisure activities? Do you want to be able to take care of your loved ones and your health? Play golf? Own a boat? Start a Bed and Breakfast?
Salary sacrificing can significantly enhance superannuation savings for retirement. By creating an agreement between an individual and their employer, they can “sacrifice” a part of their salary directly into their super account. Because contributions are deducted from their “before-tax salary”, their taxable income is reduced while their retirement savings receive a boost.