POWERED BY MOMENTUM MEDIA
Parliamentary Committee examine further super changes
The consolidation of superannuation accounts and the Government's move to narrow the accessibility of the superannuation co-contributions regime will be subject of discussion at a Parliamentary Committee in Canberra this week.
A range of industry organisations including the Association of Superannuation Funds of Australia (ASFA) and the Australian Institute of Superannuation Trustees will present evidence to the House Economics Committee during the hearings.
The process of consolidation of multiple superannuation accounts within a single fund and whether trustees should be responsible for consolidating multiple accounts will be a critical issue examined by the committee.
It will also hear evidence around the Government's proposed reforms to the superannuation co-contribution regime for low income earners, including reducing the rate of co-contribution from 100 to 50 per cent, and reducing the higher income threshold from $30,000 to $15,000 above the lower income threshold.
The consideration of these super changes, some of which have flowed on from the 2012 budget, has been announced just days after the Government's latest policy announcements around super ahead of the May Budget.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Financial advice is having a significant impact on how Australians are engaging with the more complex aspects of their superannuation, new findings have shown.
While the Financial Advice Association Australia said it supports a performance testing regime “in principle”, it holds reservations about expanding this scope to retirement products.
In a Senate submission, the Financial Services Council said super funds should be able to nudge members on engaging with their super and has cautioned against default placements.
The Joint Associations Working Group, which counts FSC in its ranks, has issued an urgent warning to the government.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
4
Acadian Global Equity Long Short Class A
32.82 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.44 3 y p.a(%)
Add new comment