The Conversation

Super fees vary wildly, and it will hurt your retirement income

The Conversation, Superannuation, Super fees vary wildly, and it will hurt your retirement incomeIn the six months since the Financial System Inquiry found Australia’s A$16 billion superannuation industry needed to improve efficiency, there’s been little willingness by the sector to admit to it.

Some industry leaders continue to argue that funds compete vigorously, so the outcome must be close to efficient, with little more than a few loose ends to be tied up.

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Superannuation tinkering could kill the goose that lays the golden egg

The Conversation, SuperannuationGiven the A$2 trillion tied up in superannuation, it is perhaps no surprise that Australian governments could be tempted to use it as a cash cow to address growing budget shortfalls.

Rumours of further changes to superannuation are gathering momentum ahead of the next federal election. While the Coalition government has ruled out making direct changes to superannuation taxation, it has reportedly left open the option of addressing what it calls “super integrity issues” and “loopholes” in the system. The Labor opposition has promised it will cut superannuation tax concessions for high-income earners.

Read More »Superannuation tinkering could kill the goose that lays the golden egg

Time to listen to the evidence for a rethink of super tax concessions

The Conversation, SuperannuationEvidence doesn’t matter when it comes to policy development. At least it doesn’t matter as much as it should in theory.

In theory, the full range of evidence is sought and nothing is off limits. In theory, objective evidence will show a clear path forward that is obvious to everyone. And in theory, as soon as new evidence is available, it will result in policy action.

Read More »Time to listen to the evidence for a rethink of super tax concessions

Super connected directors not helping super fund performance

Superannuation regulator APRA has thrown its weight behind calls for more independent directors on super fund boards, arguing they improve board governance.

Despite a number of improvements in the area, including disclosure and the management of conflicts of interest, some issues have not received as much attention, in spite of their importance. For example, the practice of multiple directorships.

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