#Time2Enshrine campaign calling for legislative objectives for super

SuperConcepts has launched a new campaign – #Time2Enshrine – in support of putting objectives for the superannuation system in legislation. “Throughout this month we are encouraging people to join the conversation about what purpose they think our superannuation system should serve, and tagging comments and posts with #Time2Enshrine,” said SuperConcepts CEO Lara Bourguignon. Setting objectives… Continue reading #Time2Enshrine campaign calling for legislative objectives for super

Time is right to set objectives of superannuation: SMSFA

The SMSF Association says that the time is right for objectives for superannuation to be set in legislation, in light of the Royal Commission and Productivity Commission inquiry. The Financial System Inquiry, which was initiated by the Coalition Government, recommended for broad political agreement be sought on a set of objectives for the super system… Continue reading Time is right to set objectives of superannuation: SMSFA

Imperative legislative objective for superannuation is put back on agenda

The SMSF Association says it is “imperative” that the Government puts legislating an objective for superannuation back on the agenda. The recommendation to put in legislation an objective for the super system comes from the Financial System Inquiry (FSI) – which was started by the Coalition Government. The FSI called for the Government to “seek… Continue reading Imperative legislative objective for superannuation is put back on agenda

Senate recommended to pass super objective Bill, reporting in IGR

The majority of a Senate committee inquiry into the Superannuation (Objective) Bill 2016 has recommended its passage, though with reporting as part of the Intergenerational Report. Much of the debate over the Bill had been on the wording of the objective. The committee found there was no consensus on alternative wordings and so is sticking… Continue reading Senate recommended to pass super objective Bill, reporting in IGR

Super objective Bill shouldn’t be delayed to serve “vested interests”: Grattan Institute

The superannuation objective Bill should not be delayed to “serve the vested interests” of the superannuation industry, Grattan Institute CEO John Daley has told a Senate committee. Mr Daley told the committee, which is conducting an inquiry into the Superannuation (Objective) Bill 2016, that the Bill should be passed as drafted. The Grattan Insitute is… Continue reading Super objective Bill shouldn’t be delayed to serve “vested interests”: Grattan Institute

Essential to include ‘adequacy’ in objective for superannuation

It is essential to include the concept of adequacy in the legislative objective for superannuation, says the SMSF Association. A Bill to set in legislation an objective for superannuation is currently before the Parliament, the Superannuation (Objective) Bill 2016. However opinion on the objective are divided, with the superannuation industry calling for the objective to… Continue reading Essential to include ‘adequacy’ in objective for superannuation

Objective for superannuation shouldn’t include adequacy: Grattan Institute

The Grattan Institute agrees with the Government that the legislative objective for superannuation shouldn’t include adequacy or the need for a ‘comfortable’ retirement. The Government is close to setting an objective for superannuation in legislation, following from a recommendation of the Financial System Inquiry. The Bill before Parliament, the Superannuation (Objective) Bill 2016, is currently the subject… Continue reading Objective for superannuation shouldn’t include adequacy: Grattan Institute

Government’s proposed superannuation objective is “fatally flawed”

The Government’s proposed legislative objective for superannuation is “fatally flawed”, according to Industry Super Australia. In a submission to the Senate Committee inquiry into the Superannuation (Objective) Bill 2016, Industry Super Australia says that setting an objective as a means to evaluate policy proposals is sound but the objective in the Bill is flawed. “Among… Continue reading Government’s proposed superannuation objective is “fatally flawed”

Draft super regs: Fair & Sustainable, subsidiary objectives for super

The Government has released draft superannuation regulations for consultation, including implementation of some of the ‘Fair and Sustainable’ super changes and to set subsidiary objectives for the super system. The draft regulations, which were released on Friday the 16th of December, include: Defining total superannuation balances Release authorities Lowering the annual non-concessional cap Improving access to… Continue reading Draft super regs: Fair & Sustainable, subsidiary objectives for super

Proposed objective for superannuation “inadequate and lacks ambition”

The Government’s proposed objective for superannuation, to be set in legislation, is “inadequate and lacks ambition” says the SMSF Owners’ Alliance. A Senate committee is conducting an inquiry into the Superannuation (Objective) Bill 2016, which would legislate the following as the primary objective for superannuation: The primary objective of the superannuation system is to provide… Continue reading Proposed objective for superannuation “inadequate and lacks ambition”