Minister for Superannuation Bill Shorten has urged those with an interest in the future of superannuation to attend one of two public forums being held in Sydney and Melbourne or to make a submission regarding the Charter of Superannuation Adequacy and Sustainability.
The Charter is being drafted by the Charter Group, who will oversee consultation, and which includes the Australian Prudential Regulation Authority's Ross Jones, Challenger's Jeremy Cooper, former AustralianSuper chair Elana Rubin, former MLC chief Steve Tucker and Alan Goldberg.
Shorten said the Charter aimed to enshrine the core principles of certainty, adequacy, fairness and sustainability.
The Charter Group is also assessing feedback with regard to the establishment of a Council of Superannuation Custodians, Shorten said, and its responsibilities to report annually on the system's adequacy, performance and sustainability, and would make recommendations to Parliament.
"The Council will act as an impartial, expert superannuation body which protects the integrity of the scheme and ensures the policy settings are consistent with its core objectives, values and principles."
Shorten advised that the discussion paper ‘Charter of Superannuation Adequacy and Sustainability and Council of Superannuation Custodians' would act as the framework for consultation, which closes 21 June.
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.
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