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Super is a long-term game: ASIC
Trustees must do a better job of communicating the long-term nature of superannuation to their members, says Australian Securities and Investments Commission commissioner, Greg Tanzer.
Addressing the Conference of Major Superannuation Funds (CMSF) in Brisbane, Tanzer said superannuation was a long-term investment but much of the discussion in the industry was about the short term.
"We need to be discussing the long-term objectives," he said.
In doing so, Tanzer signaled ASIC might be prepared to provide further relief around retirement estimate calculators, saying it was something the regulator might be able to "tweak".
He said he believed trustees could do more to emphasis the long-term nature of superannuation.
This might include the provision of better tools and emphasising 10-year returns over one-year returns.
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