POWERED BY MOMENTUM MEDIA
ASFA CEO condemns Grattan Institute as ‘anti-retirement’
The Association of Superannuation Funds of Australia (ASFA) has directly confronted the Grattan Institute describing it as an “anti-retirement group”.
ASFA chief executive, Dr Martin Fahy has reacted to recent statements by the Grattan Institute by issuing a formal statement claiming “Grattan want a welfare state where 70-80% of Australians will be relying on a government funded age pension, public health system and a benevolent age care system”.
“They are offering Australians a bleak retirement where they are older and sicker for longer, when we know people want to be younger and healthier for longer,” Fahy said.
He said the Grattan Institute’s vision of retirement was one where everyone over the age of 75 sat at home watching daytime TB, waiting for a public hospital bed.
“We know that these outdated characterisations of retirement are at odds with what people want. People are active and motivated in retirement and they want to have choices. They don’t want their grandparents’ retirement.”
“The development of retirement policy needs to recognise and support the changing landscape where more and more Australians are working longer, living longer, and staying active longer,” Fahy said. “A Jansenite model of retirement where the few are destined for a dignified retirement and the working classes are condemned to the Age Pension has no place in modern Australia.”
Recommended for you
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
