Superannuation the next big reform

Past election and other vintage threads.

Superannuation the next big reform

Postby HBS Guy » 27 Oct 2012, 06:11

Huge fees—for below average returns. Massive govt subsidies involved:

A report commissioned by the Industry Super Network has found fund members are paying around $20.1 billion in fees each year, with $6.2 billion of that money going to fund managers.

The ISN's chief executive David Whiteley says that means fund managers and other corporate providers of superannuation services should be subject to the same disclosure requirements as the super funds themselves.

http://www.abc.net.au/news/2012-10-24/p ... es/4329872


I have rabbited on about Super at length, just do a search :roll :bgrin but it is a huge industry, over a $1Trn invested, a great Keating reform. But, like all venerable sectors, can do with some pruning and fertilising. A $1Trn industry shouldn’t need $30Bn in government subsidies! Great scope for more savings by Swan there!

There have been reforms—this is a great reforming government—but still LOTS to do!
Abbott & Co are going to cause the mother and father of all recessions—be prepared!
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