Super consumer advocacy body EOI opens

The government has opened an expressions of interest (EOI) process towards establishing a consumer advocacy body for superannuation.

An announcement from the Assistant Minister for Superannuation, Financial Services and Financial Technology, Jane Hume, said the body would fill a “critical void in superannuation policy debates by becoming the voice of consumers”.

The announcement noted it was also a key recommendation of the Productivity Commission’s report ‘Superannuation: Assessing Efficiency and Competitiveness’, which found that super discourse was dominated by interests of funds and trustees rather than members.

The EOI would be open until 13 January, 2020 and interested parties would be able to provide feedback on how the body should be established and funded, its functions, and its governance and accountability arrangements.

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