Legislative objective for superannuation

Don’t base objective for super too much on age pension

The Tax Institute has warned against linking a legislated objective for superannuation too strongly to the age pension. The Government has been consulting on setting an objective for superannuation in legislation, following from a Financial System Inquiry (FSI) recommendation. The FSI proposed “to provide income in retirement to substitute or supplement… Read More »Don’t base objective for super too much on age pension

Retirement must remain purpose of superannuation: SMSF Association

purpose of superannuation, smsf associationThe SMSF Association says the purpose of superannuation must remain providing self-sufficiency in retirement. Using superannuation for other purposes risks preventing the system from “providing people with income for a secure and dignified retirement.”

Recent ‘though bubbles’ have included using superannuation for deposits for first home buyers and to pay for job training.

Read More »Retirement must remain purpose of superannuation: SMSF Association