“Retirement income policy has become increasingly contested in recent years. The debate has unfolded along several dimensions: fiscal sustainability, adequacy of incomes given longer lives, and the fairness of the tax concessions designed as incentives to save through superannuation,” said Per Capita.
Recently released conducted by Roy Morgan shows that only 35.8% of respondents said they “should do something about planning my financial future”. Only 29.4% answered “I have planned enough to be financially secure in the future.” 26.7% said “retirement in too far away for me to plan it now.”
The Local Government Super fund regained the top ranking in the 2014/15 Asset Owners Disclosure Project (AODP) Global Climate 500 Index. The index rates some of the world’s largest asset holders, including pension funds, insurance funds, sovereign wealth funds, foundations and endowments.
Regulation will be a dominant factor in the future of the superannuation industry. This is a finding of the joint report by the Australian Institute of Superannuation Trustees (AIST) and BNP Paribas Securities Services: 2025: What will the superannuation industry look like in a decade?
40% of respondents said that regulatory change will be the single biggest risk to the superannuation industry in 2025.
The 2015 BDO Tax Reform Survey has found over a third of respondents think the superannuation contribution caps are inconsistent with the purpose of superannuation.
The fourth annual BDO Tax Reform Survey finds that “Australians are tired of waiting and want the Government to get on with the business of reforming Australia’s tax system.”
67.4% of respondents either agreed or strongly agreed that “the capping of superannuation contributions is inconsistent with the original policy of the superannuation scheme of Australia.” 14.2% disagreed with the statement.
This growth is both in terms of funds under management and proportion of GDP, according to research and advice firm Rice Warner.
This should provide trustees with confidence that (collectively) funds will have strong liquidity and will be able to maintain long-term, growth-based investment strategies. This also will reward fund members and pensioners.