APRA has outlined its areas of compliance focus for superannuation funds for 2016.
The Royal Commission into Trade Union Governance and Corruption has recommended a significant expansion of choice of super fund for employees, going further than its own draft report.
The Financial Services Council (FSC) has welcomed the direction the Royal Commission into Trade Union Governance and Corruption is taking on superannuation. The Trade Union Royal Commission recently released the Discussion Paper – Options for Law Reform, which the FSC says “identifies inherent conflicts in the superannuation system.”
With pressure increasing on the Government to remove exemptions from employee super fund choice unions and some industry super funds are opposing the changes. Though many more people can choose which superannuation fund receives their employer contributions since the introduction of super choice, many still can’t due to the exemptions from super choice relating to… Continue reading Extending super fund choice opposed by unions, industry funds
The interim report of the Union Royal Commission has ‘foreshadowed’ that the final report is likely to include a recommendation that more employees be given choice of which fund receives their superannuation guarantee contributions. The interim report of the the Royal Commission into Trade Union Governance and Corruption was tabled on Friday the 19th of… Continue reading Union royal commission likely to recommend SG changes
The Royal Commission into Trade Union Governance and Corruption may recommend changes to the super choice rules. The Counsel Assisting Submissions to the Royal Commission include a recommendation that super choice should be extended to employees covered by collective and enterprise agreements. Under the current super choice rules many employees may choose which fund receives their… Continue reading Union royal commission considering changes to super choice