Hume reiterates call to end super culture wars

1 July 2019
| By Mike |
image
image
expand image

Some industry superannuation funds have been just as guilty of investment under-performance as some retail funds, according to the Assistant Minister for Superannuation, Financial Services and Financial Services Technology, Senator Jane Hume.

Interviewed on radio, Hume reiterated her call for an end to the culture wars between the various types of superannuation funds while acknowledging that while some industry funds had performed exceptionally well, there were also some industry funds which underperformed.

“The most important thing now is that we put aside the sector wars, whether it's between industry or retail, whether it's between self-managed super funds (SMSFs) and industry and retail super, and say, right, well, what's in the best interest of members?” she said. “That's what we're all about, the best member outcomes that we can get to.”

Hume also signalled that the Government had no intention of altering the existing time-table for lifting the superannuation guarantee, noting that it had been legislated and there was no intention to alter that approach.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 3 months ago
Kevin Gorman

Super director remuneration ...

1 year 3 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 3 months ago

Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predict...

4 hours ago

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 ...

4 hours ago

Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns a...

5 hours ago

TOP PERFORMING FUNDS