POWERED BY MOMENTUM MEDIA
Retirement Income Review consultation welcomed
The Association of Superannuation Funds of Australia (ASFA) has welcomed the release of the government’s Retirement Income Review consultation paper as it is an opportunity to improve the long-term retirement outcomes for Australians.
On Friday, the government released the paper to outline some of the issues the panel would be considering and it was intended to be a guide to those making a submission.
ASFA chief executive, Martin Fahy, said: “Australia’s superannuation system is consistently ranked as one of the top private pension systems globally in terms of sustainability, adequacy and integrity. The review of the retirement income system is an opportunity to build on this great foundation”.
“ASFA is committed to working constructively with the review panel. In order to deliver on its aspiration to establish a single fact-base around Australia’s retirement funding system, I reiterate the call for Treasury to release its MARIA [Model Of Australian Retirement Incomes And Assets) model which will be used as part of this review.
“This will make the underlying assumptions transparent and thus constructively contribute to a robust debate and ultimately good public policy.”
Submissions are open until 3 February 2020.
Recommended for you
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
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(%)
Add new comment