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O’Dwyer rules out super policy moratorium
The Federal Government will not be pausing superannuation policy changes during a comprehensive review of the sector by the Productivity Commission (PC).
Assistant Treasurer, Kelly O'Dwyer, yesterday announced the broad terms of reference of the PC inquiry but made clear that the Government would be pursuing policy changes where necessary while that inquiry continued.
She said the PC exercise would be broke into three phases starting off with developing underlying criteria, followed by ooking at possible alternative default fund allocations and then finally examining the efficiency and competitiveness of the system.
However, she said this process did not "represent a moratorium on change" and that the Government would continue to pursue policy change where it believed it was necessary.
O'Dwyer said that a par of the Government's policy change agenda was already beingn pursued in the Senate - the governance changes requiring at least one-third independent directors including an independent chairman.
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The profit-to-member super fund’s MySuper default option has returned 9.85 per cent for the financial year 2024–25.
Colonial First State (CFS) has announced solid double-digit returns for its MySuper balanced and growth equivalent funds during the financial year.
The super fund’s Future Saver High Growth option delivered an 11.9 per cent return for the financial year 2024–25, on the back of a diversified portfolio and actively managed investment strategy.
HESTA has delivered a 10.18 per cent return for its MySuper Balanced Growth option in the 2024–25 financial year, marking the third consecutive year of returns above 9 per cent for the $80 billion industry fund’s default investment strategy.
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