There is growing support within the superannuation industry for the implementation of a default post-retirement product.
A survey conducted by Super Review at last November's Association of Superannuation Funds of Australia (ASFA) Conference in Brisbane has revealed rising levels of support for a so-called "MyPension" product would be mandated in similar terms to MySuper.
Delegates to the ASFA Conference were asked whether, given the increased focus on post-retirement, they believed the Government should move for the development of a default MyPension product to be offered by each fund.
Nearly 65 per cent of respondents supported the development of such a "MyPension" product with just 32.4 per cent opposing such a move.
The result compares to responses to the same question posed in a survey conducted during the Conference of Major Superannuation Funds seven months earlier which revealed a little less than 59 per cent of respondents as being in favour of adopting a "MyPension" product with a full 40 per cent opposed to such a move.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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