POWERED BY MOMENTUM MEDIA
Pension taper rates, not super are the problem
The validity of current Age Pension taper rates were more problematic than the state of the superannuation system when it came to looking at retirement incomes in Australia, according to Australian Super chief executive, Ian Silk.
Speaking on a panel during the Association of Superannuation Funds of Australia (ASFA) national conference in Melbourne, Silk said that he believed there needed to be more focus on the inter-relationship between the Age Pension and Superannuation.
He said he believed the Government’s retirement income review was a really good idea in circumstances where Australia had not really had a holistic examination of the retirement incomes regime.
However, Silk said it needed to thoroughly examine the inter-relationship between superannuation and the Age Pension.
“And that is where the assets and income test comes into play and the question of taper rates,” he said.
Silk said that, in his view and despite the critics, it was not the superannuation system that was at fault, it was the taper rate.
Mercer partner and ASFA board member, Jo-Anne Bloch agreed with Silk and said that more attention needed to be turned to the decumulation phase.
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(%)
