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Tasplan calls for simplicity
Major Tasmanian-based superannuation fund Tasplan has pointed to a rise in the number of superannuation accounts existing in Australia as proof the Federal Government has more work to do on retirement incomes and superannuation policy.
Tasplan general manager said the rise in the number of superannuation accounts, identified in the latest Australian Prudential Regulation Authority figures, suggested that Australia’s superannuation regime remained too complex.
“Multiple superannuation accounts mean multiple fees and increased complexity in managing retirement savings,” he said.
Cassidy said there were various reasons for the growth in the number of superannuation accounts, but much of the problem was owed to the fact that too few Australians had a retirement plan and remained disengaged from superannuation.
AUTHOR
Mike Taylor
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