Super funds will determine ‘dangerous occupations’ carve-out

15 November 2018
| By Mike |
image
image
expand image

Superannuation funds themselves will be the ones who decide which members will be covered by the Government’s so-called “dangerous occupations carve-out” to its new insurance inside superannuation rules.

Treasury Retirement Income Policy Division head, Robert Jeremenko has told the Association of Superannuation Funds of Australia (ASFA) national conference in Adelaide that the Government expects superannuation funds will know which of its members are employed in dangerous occupations.

He defined dangerous occupations as being those which have a higher statistical likelihood of injury.

The “dangerous occupations carve-out” was announced by the Assistant Treasurer, Stuart Robert in an address to the opening session of the ASFA conference on Wednesday.

The carve-out will assist some funds who have large numbers of members employed in dangerous jobs with other funds now having to adjust to having members aged under 25 or with balances under $6,000 having to ‘opt-in’ to insurance inside superannuation.

Read more about:

AUTHOR

Add new comment

The content of this field is kept private and will not be shown publicly.

Recommended for you

sidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

4 months ago
Kevin Gorman

Super director remuneration ...

4 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

4 months ago

The Association of Superannuation Funds of Australia has appointed a new director representing industry funds, among a number of other appointments in recent months....

1 day 4 hours ago

The asset manager is bolstering its investments in the global energy transition and climate opportunities....

1 day 17 hours hence

The ethical investment manager has reported record FUM as its growth trajectory continues apace....

2 days 4 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND