The Association of Superannuation Funds of Australia (ASFA) will provide an industry-wide forum for stakeholders to discuss superannuation policy.
ASFA chief executive Pauline Vamos said the industry body welcomed the announcement from the Financial Services Council that it will work with the Industry Super Network on super policy.
"For over 50 years, ASFA has brought all sectors of superannuation together to deliver outcomes that are in the best interests of fund members," she said.
"For some time now we have been advocating for other industry bodies to work together, particularly when it comes to the big picture issues in superannuation."
ASFA will write to all stakeholders to convene an industry-wide forum for industry bodies to discuss superannuation policy.
"As a result we feel that the stage is set for the next level of collaboration amongst all interested parties, from the larger funds that they represent through to smaller funds, self-managed super funds, financial planners, actuaries, investment consultants and many more," said Vamos.
The Federal Court has ordered AustralianSuper to pay $27 million for failures to address multiple member accounts.
The country’s fourth-largest fund is targeting the “missing middle” of members with a new digital advice service in partnership with Ignition Advice.
The prudential regulator confirmed it is considering BUSSQ’s Federal Court appeal.
The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.