The Association of Superannuation Funds of Australia (ASFA) has recruited former Australian Securities and Investments Commission staffer and MLC regulatory specialist Margaret Stewart as its new general manager of policy.
The appointment has been confirmed by ASFA chief executive Pauline Vamos, who pointed to Stewart’s strong qualifications for the role.
Stewart succeeds David Graus in the key policy position.
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.