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Industry welcomes change of Government
The Industry Super Network (ISN) has congratulated new Prime Minister Tony Abbott and the Federal Coalition for their election win over the weekend.
It welcomed the party's commitment to a period of stability for the superannuation sector and encouraged a bipartisan approach to super policy.
"Industry Super Network has enjoyed a constructive relationship with the Coalition and we look forward to working cooperatively with the new Government — as well as the Opposition, the Greens and minor parties — to build the world's best retirement superannuation system," said ISN chief executive David Whiteley.
Whiteley also congratulated the former Government on landmark achievements including Stronger Super reforms and the Future of Financial Advice (FOFA) legislation.
He said the importance of superannuation would only grow, with industry funds playing a key role in the economy due to their investment in infrastructure.
Association of Superannuation Funds of Australia (ASFA) also welcomed a new government.
"We look forward to engaging with the new Ministerial team on the future design of a sustainable system, the role of the pool in the economy and the issues facing the superannuation industry in relation to regulatory implementation," said ASFA chief executive Pauline Vamos.
Vamos said the timing of the election left many issues regarding the implementation of superannuation reforms unresolved and called on Government to ensure costs and risks were minised for members.
ASFA also welcomed the Coalition's commitment to a financial system enquiry.
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