POWERED BY MOMENTUM MEDIA
Industry funds warn Govt on super equity
Superannuation will become a key election issue if the Govenrment uses the May Budget to deliver super tax changes which do not deliver equity, according to Australian Institute of Superannuation Trustees (AIST) chief executive, Tom Garcia.
Making his opening address to the Conference of Major Superannuation Funds (CMSF), Garcia warned the Government against seeking to pursue a "quick fix" approach to super changes in the Budget.
He said he would be very disappointed if a quick fix approach was pursued in circumstances where Australians did not need superannuation to be used as a means of fixing a Budget hole.
"The super tax changes need to pass the test of fairness or super will become a major election issue," Garcia said.
Elsewhere in his opening address, Garcia also pointed to the "myth" of people needing $1 million in super to enable a comfortable retirement.
He said this simply was not true and that super needed to viewed in the context of access to the Age Pension.
Recommended for you
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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