The Financial Services Council (FSC) is urging its member companies to following the example of Perpetual Limited in unilaterally lifting its superannuation guarantee contribution for employees to 10 per cent with a view to lifting it to 12 per cent by 2020.
The FSC chief executive, Sally Loane referenced Perpetual's example in her annual State of the Industry address last week at the same time as urging the Federal Government to speed up the timetable for lifting the superannuation guarantee to 12 per cent.
Discussing the move by Perpetual, Loane said it demonstrated the company's commitment to adequacy.
"[It's] a great move and one that deserves many followers," she said.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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