The Financial Services Council (FSC) is urging its member companies to following the example of Perpetual Limited in unilaterally lifting its superannuation guarantee contribution for employees to 10 per cent with a view to lifting it to 12 per cent by 2020.
The FSC chief executive, Sally Loane referenced Perpetual's example in her annual State of the Industry address last week at the same time as urging the Federal Government to speed up the timetable for lifting the superannuation guarantee to 12 per cent.
Discussing the move by Perpetual, Loane said it demonstrated the company's commitment to adequacy.
"[It's] a great move and one that deserves many followers," she said.
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald 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.