Questions have been raised by the Alliance for the Fairer Retirement System that it feels should be addressed by the Review of the Retirement Income System.
The review was announced by Treasurer Josh Frydenberg last week and was the first major review of Australia’s superannuation system in 30 years. It will examine the interaction between the age pension, compulsory super and voluntary savings.
John Maroney, spokesperson for the Alliance, said the review would provide an ‘important opportunity’ to ensure the superannuation system continued to evolve in a positive way. However, it raised five questions which it felt needed to be addressed within the review.
The five questions were:
It also praised the appointment of former Alliance spokesperson Dr Deborah Ralston, who was also chair of the SMSF Association, on her appointment to the review board.
The Alliance encouraged all Australians with an interest in promoting a fairer and sustainable retirement income system to respond to the Review’s discussion paper later this year.
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The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
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