Wayne Davy: Superannuation should be an issue at the next election. As to whether it will be or not will depend on whether it makes it up the political scale of interest.
Certainly, ASFA is trying to promote it up the scale, but from an electoral point of view, I think it’s a relatively boring issue.
Over time, the education of the general community about superannuation and the fact that we have an ageing population will push it up the scale. The ASFA advertisements fit into the short-term cycle of politics, and that is good, but at the end of the day, it will be the long-term education programs that will really count.
Wayne Davy — Fund Secretary, Quadrant.
Ross Bernays: There is a question mark over whether super will be an election issue because of the past history of politicians failing to address the need for a review and simplification of the superannuation system.
I think the ASFA advertisements have resulted in the most positive response to super issues for some time, but we are dealing with politicians here and there is still a lot of time between now and the election.
The environment is right to get issues aired that perhaps have not received enough attention in the past, and it is now a case of striking while the iron is hot and perhaps pressuring for definitive commitments to a review of super.
The system of superannuation is in need of a total overhaul and politicians who refuse to acknowledge that are not representing the needs of their constituents.
Ross Bernays — Chief executive, Health Industry Plan .
Australia’s superannuation sector has expanded strongly over the June quarter, with assets, contributions, and benefit payments all recording notable increases.
The Super Members Council (SMC) has called on the government to urgently legislate payday super, warning that delays will further undermine the retirement savings of Australian women.
ASFA has highlighted that regulation should not be “set and forget” and calls for a modernised test to meet future needs.
The super fund is open to the idea of using crypto ETFs to invest in the asset class, but says there are important compliance checks to tick off first.