Latest news with #ART
Sky News AU
2 days ago
- Business
- Sky News AU
About $125k nest egg bump for 30-year-old Aussie on average salary amid super hikes, Australian Retirement Trust shows
A 30-year-old Australian earning the average salary will be $125,000 better off by the time they retire under recent changes to superannuation launched over the past five years. This is the finding of Australian Retirement Trust (ART) which said the gradual increase of the mandatory superannuation contributions from 9.5 per cent in 2020 to 12 per cent from the start of July will contribute more than six figures into young Australians' super accounts. ART's executive general manager for advocacy and impact Anne Fuchs said a 30-year-old on $100,000 per year – the average salary in Australia – will reap massive benefits of the increases since 2020. "In a fortnightly pay statement, the increase in the superannuation guarantee rate may seem tiny,' Ms Fuchs said. 'But over a working lifetime, the magic of compound returns can turn those small increases into hundreds of thousands of dollars.' It comes as working Aussies will receive a 0.5 per cent super contribution bump from the start of the coming financial year. Mrs Fuchs likened the increase to 'reaching the summit of your own financial Everest' for many working Australians. 'Since the superannuation guarantee was introduced in 1992, it has become the cornerstone of Australia's retirement system – evolving from a modest three per cent contribution to a robust framework that provides you with meaningful savings for your future,' she said. 'An increase in superannuation contributions means you'll be adding that little bit extra to your super and over time, that really adds up.' The gradual super contribution changes from 9.5 per cent to 12 per cent was originally proposed under the Rudd government and enacted under former prime minister Scott Morrison. Other research from the Association of Superannuation Funds of Australia showed a 30-year-old worker earning $75,000 will be $20,000 better off due to the 0.5 per cent super change. The bump comes as Australia's $4.2 trillion super nest egg will grow from the fourth largest super pool in the world to the second over the coming decade. This is according to a report from the Super Members Council which showed Australia will surpass the United Kingdom's and Canada's pensions amid growth in Australia's superannuation guarantee scheme. Super Members Council CEO Misha Schubert lauded Australia's super system as the 'envy of the world'. 'Australia has the fastest growing super system globally – twice the rate of international peers,' Ms Schubert said. 'We're the only OECD country where spending on government-funded pension payments is falling and will continue to fall.'
Hans India
5 days ago
- General
- Hans India
Goods train derails near Muzaffarpur Junction in Bihar; no casualties
Patna: Train operations were disrupted on Monday evening as four wheels of a goods train derailed near the Route Relay Interlocking (RRI) section of Muzaffarpur Junction at around 6 p.m. No casualties, however, were reported. The goods train was returning towards Narayanpur after unloading track ballast (stones) and had originated from the Madipur side. According to a Railway official, a wagon went off the track shortly before the derailment, causing the train losing its balance on the track. A Group-D railway employee who was present on the wagon jumped in time and escaped unhurt. The loco pilot acted swiftly, stopping the train immediately and preventing a major mishap. Due to the derailment, Lichhavi Express is stranded at Madipur Outer, Muzaffarpur–Porbandar Express has been halted, Samastipur–Siwan Passenger is also stationed at Silaut apart from other express and passenger trains on this route. Railway officials are working rapidly to normalise operations. All wagons ahead of the derailed one have been removed, and efforts are underway to clear the rear part of the wagons. Sonpur Division DRM Vivek Bhushan Sood, along with officials from Engineering, Operating, Carriage and Construction, and personnel from RPF and GRP, reached the site promptly and are overseeing the restoration efforts. "The goods train had gone to unload ballast. The accident occurred while it was returning. Currently, the main line is closed. Accident Relief Train (ART) has been called and will arrive shortly. The cause is yet to be determined, and a full investigation will follow," said DRM Sood. The derailment took place when the goods train was moving at a low speed of 10 kmph, which minimised the impact. Thanks to the timely intervention of the train crew, a larger tragedy was averted. The railway officials will take the statements of drivers, a guard, linemen and other employees who were present at the spot at the time of the derailment.
The Advertiser
12-06-2025
- Health
- The Advertiser
Fertility CEO resigns after embryo transferred to wrong patient in major bungle
Monash IVF CEO Michael Knaap resigned on June 12 just days after the fertility behemoth admitted to the transfer of the wrong embryo into a patient. The board accepted Mr Knaap's resignation just two months after a similar incident occurred at a Brisbane clinic. Monash IVF confirmed on June 10 that a patient was transferred her own embryo, rather than her partner's, at its Clayton clinic in Melbourne. Monash IVF believes the June 5 bungle will "fall within the scope of its insurance coverage" as insurers were notified. It comes two months after a Queensland woman gave birth to a stranger's child in an embryo mix-up at Monash IVF's Brisbane clinic. Monash IVF said in a statement to the ASX that an internal investigation would be conducted. The scope of an independent review into the Queensland mix-up, conducted by Fiona McLeod, would also be "extended", Monash IVF said. Additional processes would be put in place at Monash IVF to avoid a similar mistake, the clinic said. "Commencing immediately, Monash IVF will implement interim additional verification processes and patient confirmation safeguards over and above normal practice and electronic witness systems, to ensure patients and clinicians have every confidence in its processes," the clinic said. "Whilst industry-leading electronic witness systems have and are being rolled out across Monash IVF, there remain instances and circumstances whereby manual witnessing is required. "Monash IVF has disclosed the Incident to the relevant assisted reproductive technology (ART) regulators, namely the Reproductive Technology Accreditation Committee certifying body and Victorian Health Regulator. The fertility clinic said it has "extended its sincere apologies to the affected couple". University of Melbourne associate professor Alex Polyakov, a medical director of Genea Fertility Melbourne, said Australia's assisted reproduction sector was internationally recognised for its "rigorous oversight". "The report of a second embryo transfer error is profoundly troubling and, while still extremely rare, shifts this issue from an isolated anomaly to one demanding broader reflection," he said. "IVF clinics operate within some of the most highly regulated and scrutinised environments in medicine. "Multiple safeguards, including dual verification and electronic tracking, exist at every step to prevent precisely this kind of error." Monash IVF CEO Michael Knaap resigned on June 12 just days after the fertility behemoth admitted to the transfer of the wrong embryo into a patient. The board accepted Mr Knaap's resignation just two months after a similar incident occurred at a Brisbane clinic. Monash IVF confirmed on June 10 that a patient was transferred her own embryo, rather than her partner's, at its Clayton clinic in Melbourne. Monash IVF believes the June 5 bungle will "fall within the scope of its insurance coverage" as insurers were notified. It comes two months after a Queensland woman gave birth to a stranger's child in an embryo mix-up at Monash IVF's Brisbane clinic. Monash IVF said in a statement to the ASX that an internal investigation would be conducted. The scope of an independent review into the Queensland mix-up, conducted by Fiona McLeod, would also be "extended", Monash IVF said. Additional processes would be put in place at Monash IVF to avoid a similar mistake, the clinic said. "Commencing immediately, Monash IVF will implement interim additional verification processes and patient confirmation safeguards over and above normal practice and electronic witness systems, to ensure patients and clinicians have every confidence in its processes," the clinic said. "Whilst industry-leading electronic witness systems have and are being rolled out across Monash IVF, there remain instances and circumstances whereby manual witnessing is required. "Monash IVF has disclosed the Incident to the relevant assisted reproductive technology (ART) regulators, namely the Reproductive Technology Accreditation Committee certifying body and Victorian Health Regulator. The fertility clinic said it has "extended its sincere apologies to the affected couple". University of Melbourne associate professor Alex Polyakov, a medical director of Genea Fertility Melbourne, said Australia's assisted reproduction sector was internationally recognised for its "rigorous oversight". "The report of a second embryo transfer error is profoundly troubling and, while still extremely rare, shifts this issue from an isolated anomaly to one demanding broader reflection," he said. "IVF clinics operate within some of the most highly regulated and scrutinised environments in medicine. "Multiple safeguards, including dual verification and electronic tracking, exist at every step to prevent precisely this kind of error." Monash IVF CEO Michael Knaap resigned on June 12 just days after the fertility behemoth admitted to the transfer of the wrong embryo into a patient. The board accepted Mr Knaap's resignation just two months after a similar incident occurred at a Brisbane clinic. Monash IVF confirmed on June 10 that a patient was transferred her own embryo, rather than her partner's, at its Clayton clinic in Melbourne. Monash IVF believes the June 5 bungle will "fall within the scope of its insurance coverage" as insurers were notified. It comes two months after a Queensland woman gave birth to a stranger's child in an embryo mix-up at Monash IVF's Brisbane clinic. Monash IVF said in a statement to the ASX that an internal investigation would be conducted. The scope of an independent review into the Queensland mix-up, conducted by Fiona McLeod, would also be "extended", Monash IVF said. Additional processes would be put in place at Monash IVF to avoid a similar mistake, the clinic said. "Commencing immediately, Monash IVF will implement interim additional verification processes and patient confirmation safeguards over and above normal practice and electronic witness systems, to ensure patients and clinicians have every confidence in its processes," the clinic said. "Whilst industry-leading electronic witness systems have and are being rolled out across Monash IVF, there remain instances and circumstances whereby manual witnessing is required. "Monash IVF has disclosed the Incident to the relevant assisted reproductive technology (ART) regulators, namely the Reproductive Technology Accreditation Committee certifying body and Victorian Health Regulator. The fertility clinic said it has "extended its sincere apologies to the affected couple". University of Melbourne associate professor Alex Polyakov, a medical director of Genea Fertility Melbourne, said Australia's assisted reproduction sector was internationally recognised for its "rigorous oversight". "The report of a second embryo transfer error is profoundly troubling and, while still extremely rare, shifts this issue from an isolated anomaly to one demanding broader reflection," he said. "IVF clinics operate within some of the most highly regulated and scrutinised environments in medicine. "Multiple safeguards, including dual verification and electronic tracking, exist at every step to prevent precisely this kind of error." Monash IVF CEO Michael Knaap resigned on June 12 just days after the fertility behemoth admitted to the transfer of the wrong embryo into a patient. The board accepted Mr Knaap's resignation just two months after a similar incident occurred at a Brisbane clinic. Monash IVF confirmed on June 10 that a patient was transferred her own embryo, rather than her partner's, at its Clayton clinic in Melbourne. Monash IVF believes the June 5 bungle will "fall within the scope of its insurance coverage" as insurers were notified. It comes two months after a Queensland woman gave birth to a stranger's child in an embryo mix-up at Monash IVF's Brisbane clinic. Monash IVF said in a statement to the ASX that an internal investigation would be conducted. The scope of an independent review into the Queensland mix-up, conducted by Fiona McLeod, would also be "extended", Monash IVF said. Additional processes would be put in place at Monash IVF to avoid a similar mistake, the clinic said. "Commencing immediately, Monash IVF will implement interim additional verification processes and patient confirmation safeguards over and above normal practice and electronic witness systems, to ensure patients and clinicians have every confidence in its processes," the clinic said. "Whilst industry-leading electronic witness systems have and are being rolled out across Monash IVF, there remain instances and circumstances whereby manual witnessing is required. "Monash IVF has disclosed the Incident to the relevant assisted reproductive technology (ART) regulators, namely the Reproductive Technology Accreditation Committee certifying body and Victorian Health Regulator. The fertility clinic said it has "extended its sincere apologies to the affected couple". University of Melbourne associate professor Alex Polyakov, a medical director of Genea Fertility Melbourne, said Australia's assisted reproduction sector was internationally recognised for its "rigorous oversight". "The report of a second embryo transfer error is profoundly troubling and, while still extremely rare, shifts this issue from an isolated anomaly to one demanding broader reflection," he said. "IVF clinics operate within some of the most highly regulated and scrutinised environments in medicine. "Multiple safeguards, including dual verification and electronic tracking, exist at every step to prevent precisely this kind of error."
Sky News AU
11-06-2025
- Health
- Sky News AU
‘Very nervous': Radio star Jase Hawkins admits fears after conceiving son via Melbourne's error-plagued Monash IVF clinic
Nova star Jase Hawkins has expressed fear for his and his wife's embryos at Monash IVF after a second major blunder plagued the Melbourne clinic this year. The fertility clinic in the Melbourne suburb of Clayton on Tuesday revealed it mistakenly transferred the wrong embryo into a patient. It comes just months after the company admitted one of its patients gave birth to a stranger's child in a shocking embryo mix-up in April. Hawkins, 42, on Wednesday revealed he and his wife Lou conceived their youngest son Archie via the fertility clinic. One-half of Nova 100's Jase & Lauren said the couple still has embryos stored there in case they decide to have more children. However, he said he now doesn't 'trust' the clinic after the blunder and will have a 'conversation' with Lou about taking them off the ice. 'I'm not trying to be dramatic, but I'm like, I don't trust them sitting in that freezer at the moment,' Hawkins told his co-host Lauren Phillips. 'It just made me think last night, well, I think we need to speed up that conversation about what we want to do with them. 'Because, at the moment, I don't trust the current situation.' Hawkins reassured listeners the couple are sure they aren't the victims of an embryo mix-up with Archie, who they said looks a lot like his older brother, Felix. 'He's a dead set ringer for his we're pretty sure we're good there,' the radio star said Nevertheless, he said there was an 'icky feeling in his guts' after hearing about Monash IVF's latest muddle-up. "As someone who's gone through it (IVF), like it was such a, such a personal experience," he said. "And whatever company you go through for something like, there's that trust that you have." Last Thursday, the Melbourne clinic accidentally put a patient's own embryo into a patient rather than an embryo from their partner as planned. 'Monash IVF has extended its sincere apologies to the affected couple, and we continue to support them,' a spokesperson said. 'Commencing immediately, Monash IVF will implement interim additional verification processes and patient confirmation safeguards over and above normal practice and electronic witness systems to ensure patients and clinicians have every confidence in its processes. 'Whilst industry-leading electronic witness systems have and are being rolled out across Monash IVF, there remains instances and circumstances whereby manual witnessing is required.' 'Monash IVF has disclosed the incident to the relevant assisted reproductive technology (ART) regulators, namely the Reproductive Technology Accreditation Committee certifying body and Victorian Health Regulator.' The company's previous incident, reported in April, occurred at its Brisbane facility in 2023. Monash IVF blamed a 'human error' as the reason for the embryo mix-up which led to a birth. 'Instead of finding the expected number of embryos, an additional embryo remained in storage for the birth parents,' a Monash IVF spokesperson said. '(An) investigation confirmed that an embryo from a different patient had previously been incorrectly thawed and transferred to the birth parents, which resulted in the birth of a child.' It was not until February, months after the mother gave birth, that Monash IVF realised the mistake. Chief Michael Knapp, at the time, said he was "truly sorry" for what had happened and was "confident that this is an isolated incident". A Victoria government spokesperson said the government requested Monash IVF explain what happened in Brisbane to reassure all families.
National Post
09-06-2025
- Business
- National Post
Pattern Energy Announces Closing of Equity Investment from Consortium Headed by APG and ART
Article content SAN FRANCISCO — Pattern Energy Group LP (Pattern Energy), a leader in renewable energy and transmission infrastructure, today announced that a consortium headed by APG Asset Management N.V. (APG), on behalf of the largest Dutch pension fund, ABP, and Australian Retirement Trust (ART) closed on Riverstone Holdings LLC's (Riverstone) equity stake in the company. The previously announced investment has received all required approvals, and the consortium is now an owner in Pattern Energy alongside Canada Pension Plan Investment Board (CPP Investments) and Pattern management. Financial details were not disclosed. Article content 'Pattern is significantly strengthened by APG's and ART's financial backing and their supplemental growth capital, further positioning the company to meet critical and rapidly growing energy demand across North America,' said Hunter Armistead, CEO at Pattern Energy. 'Our new partners value Pattern's commitment to building reliable energy infrastructure while creating jobs and investing in rural communities as we advance our vision to Power the Future.' Article content 'This investment in Pattern supports our client's ambition to realize attractive, stable returns while making progress toward cleaner, more resilient energy infrastructure,' said Steven Hason, Head of Americas Real Assets at APG Asset Management US Inc. 'Partnering with Pattern and our new stakeholders reinforces our strategy to deliver long-term value while making a real difference day after day.' Article content 'Our partnership with Pattern demonstrates our efforts to advance renewable energy infrastructure,' said Michael Weaver, General Manager, Mid Risk Assets & UK at ART. 'This investment strengthens our expanding sustainable energy portfolio, aligning with our responsibility as a leading global investor. We are confident it will deliver lasting value for our 2.4 million members while supporting our Net Zero 2050 Roadmap.' Article content 'As one of the founding equity partners in Pattern, we take pride in fostering the tremendous growth and innovation at the company over the past 16 years, and we are confident that Pattern is well-positioned for continued success,' said Yakov Tsveig, Principal of Riverstone. Article content Founded in 2009 by Riverstone, its affiliates, and current and former members of the Pattern management team, Pattern Energy has become one of the world's largest privately-owned developers and operators of some of the most sophisticated clean energy and transmission projects in North America. Article content Evercore Group L.L.C. served as exclusive financial advisor and Vinson & Elkins served as legal counsel to Riverstone in connection with this transaction. Sidley Austin LLP served as legal counsel to the buyer consortium. Article content About Pattern Energy Article content Pattern Energy is one of the world's largest privately-owned developers and operators of major clean energy and transmission infrastructure. With more than 30 facilities across North America, Pattern's operations use proven, best-in-class technology to deliver affordable, reliable power to millions of customers. Its nearly 10,000 MW operating and under construction portfolio is meeting critical energy needs and growing demand. Pattern Energy is guided by a long-term commitment to serve customers, strengthen communities and responsibly Power the Future. For more information, visit Article content About APG Article content As the largest pension services provider in the Netherlands APG looks after the pensions of 4.6 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €616 billion (December 2024) in pension assets. With approximately 4,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, and Singapore. About ART Australian Retirement Trust is one of Australia's largest super funds. Close to 2.4 million Australians trust us to take care of over AUD 300 billion of their retirement savings. We're here to help our members retire well with confidence, focused on strong long-term investment returns, lower fees and the information and access to advice our members need to manage their super and retirement. Article content Article content Article content Article content Contacts Article content Matt Dallas Pattern Energy 917-363-1333 Jennifer Bainbridge APG Asset Management US Inc. 973-842-1391
