POWERED BY MOMENTUM MEDIA
Most back Labor on super
The superannuation industry appears to be backing the Australian Labor Party (ALP) to win the next Federal Election.
The industry also appears to prefer the Australian Labor Party’s approach to superannuation policy to that of the Liberal/National Party Coalition.
In a survey conducted during the recent Association of Superannuation Funds of Australia national conference by Money Management’s sister publication, Super Review, respondents were asked which party had the best policy approach to superannuation, with 57.1 per cent nominating the ALP, compared to 14.2 per cent for the Coalition Government.
Just as importantly, when asked which party would win the next Federal Election, 71.4 per cent nominated the ALP while 14.2 per cent nominated the Coalition.
A crucial factor in this outcome may have been the Coalition’s approach to the superannuation guarantee (SG), almost 70 per cent of respondents wanting the SG increased to 12 per cent or beyond as soon as possible.
Asked what they believed should happen with the SG, no respondents nominated leaving it at the current 9.5 per cent, while 42.8 per cent wanted it increased to 12 per cent as soon as possible, with only 28.5 per cent wanting it to be tied to the Government’s current timetable of 2025.
Significantly, 28.5 per cent of respondents said they wanted the SG to be targeted to reach 15 per cent by 2025.
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The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
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in your in the financial/super industry you'd need your head read to vote labor. This survey is a real surpise tbh considering Labour wanting to gut the Fin Serivices industry, and ties to Union funds. They may give a few more Centrelink leg ups, but overall they get the country in more debt. What about the negative gearing matter -