The Association of Superannuation Funds of Australia (ASFA) will provide an industry-wide forum for stakeholders to discuss superannuation policy.
ASFA chief executive Pauline Vamos said the industry body welcomed the announcement from the Financial Services Council that it will work with the Industry Super Network on super policy.
"For over 50 years, ASFA has brought all sectors of superannuation together to deliver outcomes that are in the best interests of fund members," she said.
"For some time now we have been advocating for other industry bodies to work together, particularly when it comes to the big picture issues in superannuation."
ASFA will write to all stakeholders to convene an industry-wide forum for industry bodies to discuss superannuation policy.
"As a result we feel that the stage is set for the next level of collaboration amongst all interested parties, from the larger funds that they represent through to smaller funds, self-managed super funds, financial planners, actuaries, investment consultants and many more," said Vamos.
Amid a challenging market environment, three super fund CIOs have warned against ‘jumping at shadows’.
The professional body is calling for the annual performance test to transition to a two-metric test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.
AustralianSuper, Rest, and HESTA agree on the need to retain and enhance the test, yet they differ in their perspectives on the specific areas that warrant further refinement.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
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