The Productivity Commission has started the process of developing alternative ways to allocate super fund members to default funds with the release of an issues paper. The Government tasked the Commission with developing alternative default superannuation fund systems – with one option being a tender process to set a single… Read More »Alternative default superannuation models issues paper released
Productivity Commission inquiries into superannuation – efficiency, competitiveness, default funds
Productivity Commission has been conducting inquiries into superannuation, including the efficiency and competitiveness of the super system and alternative ways to select default funds.
The Productivity Commission has released its draft report setting out criteria for assessing the competitiveness and efficiency of the superannuation system. The final report will be delivered in November this year. The study, the first stage of a three-stage exercise, is part of the Government’s response to the 2014 Murray… Read More »PC sets groundwork for long-awaited look at super competition and efficiency
Will competition in the superannuation system improve efficiency, or is this an ideological argument extended beyond its usefulness? If more competition would promote efficiency, what design and policy issues need to be addressed to accommodate the changes? The Productivity Commission’s draft report on superannuation’s efficiency and competitiveness seeks to address… Read More »A competitive superannuation system: will efficiency gains follow?
The Productivity Commission has not called for additional reporting requirements to be imposed on SMSFs as part of its review of the superannuation sector. The Government tasked the Productivity Commission with conducting an inquiry into the efficiency and competitiveness of the superannuation system. The Commission has now released the draft… Read More »Productivity Commission doesn’t call for additional SMSF reporting
The Productivity Commission has released the draft report: How to Assess the Competitiveness and Efficiency of the Superannuation System. The Commission says the report includes a “proposed framework to assess the efficiency and competitiveness of Australia’s $2 trillion superannuation system”. “Our superannuation system is large, complex and has broad reach. This means… Read More »Draft super efficiency and competitiveness report released
Industry Super Australia has welcomed the way in which the Productivity Commission plans to assess the efficiency and competitiveness of the Australian superannuation system, with the release of its draft report. “Looking after the compulsory super savings of Australians requires funds to be of the highest quality and exhibit undivided loyalty… Read More »Industry Super welcomes draft Productivity Commission super report
Superannuation funds are focussing on appearing favourable compared to competitors rather than on long term returns for members, CPA Australia has claimed. CPA Australia made the claim in a submission to the Productivity Commission inquiry into superannuation competition and efficiency. “Many superannuation funds appear to be constructing and managing their… Read More »Super funds focusing on comparisons not long term returns
The superannuation system can be made more efficient through improved consumer disclosure and conflict of interest management, according to the Australia Institute of Superannuation Trustees (AIST). AIST has told the Productivity Commission that “more consistent and meaningful consumer disclosure, together with strengthened conflict of interest management, would improve super system… Read More »Better disclosure will improve super system efficiency: AIST
PricewaterhouseCoopers (PwC) has recommended the Productivity Commission conduct a review into SMSFs, including considering changing the regulator from the ATO to ASIC or APRA. “The recent, rapid growth in the popularity of SMSFs has meant that they now form a significant part of the superannuation system,” said PwC in a… Read More »PwC calls for review of SMSFs, consider change of regulator
This is a submission in response to the Productivity Commission Superannuation Competitiveness and Efficiency issues paper. Thank you for the opportunity to make a submission in response to the Superannuation Competitiveness and Efficiency Issues Paper. This submission will deal with two questions posed by the Issues Paper relating to SMSFs: To… Read More »Submission: Superannuation Competitiveness and Efficiency