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Superannuation policy. When everything old is new again
Ok, so Rollover will hold his hand up. He was utterly (and I do mean utterly!) wrong in his predictions about who would win the 18 May Federal Election.
Rollover, not unlike many others he knows in the superannuation industry, had expected a Labor victory with resultant changes to superannuation policy, not least the lifting of the superannuation guarantee to 12 per cent and an embedding of the industrial judiciary in the selection of default funds.
At the time of writing, it is barely five days since Prime Minister, Scott Morrison, wrought his electoral “miracle” and Rollover notes the sounds of silence emanating from the industry funds lobby.
However, it would be unwise for that silence to be an indicator of inaction.
As Rollover hears it, when ScoMo finally gets around to announcing the names of his Cabinet ministers and junior ministers, it may be time for the industry funds to dust off their campaign materials relating to the defence of default superannuation and fund governance.
It seems that at least some of the Coalition’s superannuation agenda of 2013 is about to be given a whole new life.
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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