POWERED BY MOMENTUM MEDIA
Aged care advice the new super frontier
Superannuation funds would do well to consider the delivery of education and advice around aged care and health, according to Association of Superannuation Funds of Australia (ASFA) chief executive, Pauline Vamos.
Addressing the ASFA annual conference in Brisbane today, Vamos pointed to the ageing population and associated health issues as being among the greatest challenges facing both the government and the superannuation industry.
In doing so, she presented the results of recently commission research undertaken by CoreData which pointed to an expectation by consumers that their superannuation funds could help them in dealing with difficult aged care issues.
Vamos said there was clearly a consumer need for advice and education on aged care and health issues and it was open to superannuation to play a greater role in meeting that need.
She said the research suggested that three in five respondents had indicated they would make use of such advice from superannuation funds if it were made available.
Vamos said the data underlined the need to promptly lift the superannuation to 12 per cent.
"A significant opportunity exists for superannuation funds but they need to be prepared," she said.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
I have been lobbying for this sort of direction for years. In fact I set up a company that looks at the whole of person needs to truly meet the growing needs of Australians with complex health needs. Good to see this is now becoming mainstream. Just don't commercialise and exploit.