POWERED BY MOMENTUM MEDIA
Superannuation a key to future
Peter Costello
The Federal Treasurer, Peter Costello, has used the release of the second Intergenerational Report to make clear that superannuation remains at the forefront of its policy for dealing with Australia’s ageing population.
In an address to the National Press Club, Costello said Australia’s long-term financial sustainability had improved since the release of the first Intergenerational Report nearly five years ago, but that demographic changes were still working against the nation.
He said the Government had moved to address many of the key issues, and that over the past five years there had been a significant reversal in the long-term decline in participation rates for men aged 55 to 64.
“I think an excellent example of policy for the future is the recent Simplified Superannuation reforms,” he said. “These reforms are the most significant reforms to the taxation of Australia’s superannuation in decades.”
The Treasurer said the reforms would make superannuation arrangements easier to understand, improve incentives to work and save and strengthen incentives for older Australians to remain in the workforce.
“If people stay in the workforce longer, this is an enormous gain to the workforce over time,” he said. “It is also a personal gain to people who have an enormous amount of energy and experience to continue to contribute to society.”
Costello said he regarded this as policy design at its best.
AUTHOR
Mike Taylor
Recommended for you
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
