Industry Super Australia (ISA) has called on the Government to review several aspects of superannuation policy to better cater for the country’s ageing population.
A review of superannuation tax concessions, pension means testing and work continuance incentives are among the policies the group wants Treasury to look at.
It said as Australia’s population ages, the adoption of annuities and income streams during retirement will become more important for financial preservation.
It also called on the Government to improve the “efficiency” of the superannuation system by ensuring super is commission-free and default funds are chosen on merit.
