From MySuper to post-retirement: REST Super
Getting the implementation of Stronger Super right will set up superannuation funds to continue down the path to post-retirement solutions, according to Damian Hill, chief executive for Rest Super.
Hill said while investment news had been negative since the onset of the global financial crisis (GFC), the outcome of the GFC was to encourage better engagement with members and improve the super industry.
"There's huge opportunities with this regulatory change and how you're responding to it to actually turn that engagement to more positive messages, and I think that's important for funds to take advantage of because you don't get these opportunities too often in life, and this one is sort of staring us in the face if you plan about it early enough," he said.
Hill said that while the Stronger Super changes fit into REST's overall strategy, they should have been at the forefront of funds' minds anyway.
"I think we all underestimate what the flow-on impacts will be of better quality data, so I don't see this change program as being that divorced from our strategy," he said.
Hill expects the next round of superannuation discussion to centre around post-retirement strategies and the lead-up to retirement.
He said REST has not ruled out a lifecycle option in the future, but had not developed lifecycle as a part of MySuper due to the fund's long performance history and young demographics.
"In a MySuper environment we want to stick onto that performance history…This [Stronger Super legislation] can put us in good stead for that conversation [post-retirement] as well, but you've got to be careful to set up your product and your systems architecture so as you can take advantage of that down the track," he said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
ASIC is seeing an increase in misconduct exploiting superannuation, it stated in its latest annual report.
The super sector has welcomed the government’s payday super legislation, calling it a landmark step for fairer retirement outcomes.
The regulator has ordered super trustees to strengthen oversight of platform investments after member losses from failed schemes exposed governance weaknesses.
The regulator has approved Cboe Australia to list new companies, introducing long-awaited competition to the ASX-dominated listings market.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
3
DomaCom DFS Mortgage
67.30 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
