Paul Clitheroe receives upwards of 10,000 letters a year from the public, so when he is asked about super it’s probably worthwhile stopping and listening to what he says.
“I think the issue for me continues to be the fact that despite [Treasurer Paul] Costello making some very positive noises 18 months ago about simplifying super, once again we see nothing that makes superannuation easier for the average Australian,” he says.
“There really needs to be continued pressure in ensuring that superannuation is something the average Australian can understand. It’s painfully obvious at the moment, as I literally get tens of thousands of letters each year about superannuation, that the two biggest beefs out there in the community are simplification and freedom of choice.”
However, Clitheroe adds that complexity and lack of choice actually suit some service providers in the industry, in particular financial advisors — and he doesn’t shy away from the fact that he, as a founding director of ipac, also benefits.
“But I think if we’re going to take a broader Australian approach, no one in the industry would say that they [complexity and lack of choice] are good for the average working Australian, as complexity drives people to seek advice,” he says.
“While I think there are some excellent financial planners out there, millions of Australians can’t afford to see a financial planner and I think that’s where my Money medium comes into play.”
In his spare time Clitheroe can be found at home in Sydney with his wife and three children, or on his boat or at the golf course.
“I’m a keen sailor and am looking for my own superannuation fund to keep me sailing in retirement as boats are expensive. Also, I’m a very keen golfer and in retirement my superannuation will need to keep me in golf balls,” he says.
