POWERED BY MOMENTUM MEDIA
Most back Labor on super
The superannuation industry appears to be backing the Australian Labor Party (ALP) to win the next Federal Election.
The industry also appears to prefer the Australian Labor Party’s approach to superannuation policy to that of the Liberal/National Party Coalition.
In a survey conducted during the recent Association of Superannuation Funds of Australia national conference by Money Management’s sister publication, Super Review, respondents were asked which party had the best policy approach to superannuation, with 57.1 per cent nominating the ALP, compared to 14.2 per cent for the Coalition Government.
Just as importantly, when asked which party would win the next Federal Election, 71.4 per cent nominated the ALP while 14.2 per cent nominated the Coalition.
A crucial factor in this outcome may have been the Coalition’s approach to the superannuation guarantee (SG), almost 70 per cent of respondents wanting the SG increased to 12 per cent or beyond as soon as possible.
Asked what they believed should happen with the SG, no respondents nominated leaving it at the current 9.5 per cent, while 42.8 per cent wanted it increased to 12 per cent as soon as possible, with only 28.5 per cent wanting it to be tied to the Government’s current timetable of 2025.
Significantly, 28.5 per cent of respondents said they wanted the SG to be targeted to reach 15 per cent by 2025.
Recommended for you
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
in your in the financial/super industry you'd need your head read to vote labor. This survey is a real surpise tbh considering Labour wanting to gut the Fin Serivices industry, and ties to Union funds. They may give a few more Centrelink leg ups, but overall they get the country in more debt. What about the negative gearing matter -
Add new comment