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Industry Super Network restates compare the pair claims
The Industry Super Network (ISN) has produced yet more research claiming that members of industry superannuation funds will be better off in retirement than their colleagues who are members of retail master trusts.
The latest ISN research has once again been carried out by Sydney-based ratings house SuperRatings and suggests that industry fund members could be as much as $80,000 better off due to the impact of sales commissions and fees over a 40-year period.
The ISN used the research to underpin part of its joint submission with the Australian Institute of Superannuation Trustees to the Federal Government's Henry Review on Australia's Future Tax System.
In that submission, the two groups argue that the Government should address the efficiency of the superannuation system before considering measures such as lifting the level of the superannuation guarantee.
ISN executive manager David Whitely said the submission had recommended that sales commissions on superannuation be abolished in an effort to improve the adequacy of retirement savings before increasing contribution levels.
AUTHOR
Mike Taylor
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