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Funds need to contemplate future: Healy
Recovering investment markets have served to alleviate some of the liquidity issues that have been testing super funds, according to the chairman of the Association of Superannuation Funds of Australia (ASFA), Greg Healy.
Opening the ASFA Conference in Melbourne, Healy pointed to the difficulties encountered by funds due to the global financial crisis (GFC).
Further, he pointed to the challenges now posed by the Cooper Review and the Henry Tax Review. He said that the Cooper Review was intended to make the industry more operationally efficient and, as a result, some funds would need to contemplate what they had to do to continue operating. Healy said this would place pressure on trustees as they looked to the future.
He said the fallout from the GFC would be long-lasting and that trustees would need to lift member confidence in superannuation.
AUTHOR
Mike Taylor
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