POWERED BY MOMENTUM MEDIA
Aged care advice the new super frontier
Superannuation funds would do well to consider the delivery of education and advice around aged care and health, according to Association of Superannuation Funds of Australia (ASFA) chief executive, Pauline Vamos.
Addressing the ASFA annual conference in Brisbane today, Vamos pointed to the ageing population and associated health issues as being among the greatest challenges facing both the government and the superannuation industry.
In doing so, she presented the results of recently commission research undertaken by CoreData which pointed to an expectation by consumers that their superannuation funds could help them in dealing with difficult aged care issues.
Vamos said there was clearly a consumer need for advice and education on aged care and health issues and it was open to superannuation to play a greater role in meeting that need.
She said the research suggested that three in five respondents had indicated they would make use of such advice from superannuation funds if it were made available.
Vamos said the data underlined the need to promptly lift the superannuation to 12 per cent.
"A significant opportunity exists for superannuation funds but they need to be prepared," she said.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.24 3 y p.a(%)
4
Pengana High Conviction Equities B
40.36 3 y p.a(%)
5
Pengana High Conviction Equities A
40.34 3 y p.a(%)
I have been lobbying for this sort of direction for years. In fact I set up a company that looks at the whole of person needs to truly meet the growing needs of Australians with complex health needs. Good to see this is now becoming mainstream. Just don't commercialise and exploit.