Super reforms a boost for the economy: ASFA
The Government's recently announced superannuation reforms will "help stop panic in community" by allowing more Australians to boost their own retirement savings and take pressure off the age pension, the Association of Superannuation Funds of Australia (ASFA) chief executive Pauline Vamos said.
"We have been calling on the Government to put a stop to the hysteria and consider policies which take a long-term approach to the future sustainability of Australia's superannuation system," she said.
Vamos said that by taking a long-term approach to super policies, it would help to alleviate some of the pressure on the Federal Budget and government support going forward.
"Boosting retirement income is also a boost for the economy," she said.
"The growing number of retirees will be the consumers of the future, and their superannuation income will no doubt drive demand for the goods and services provided by the thousands of small businesses in Australia."
She added that there was a lot of complexity in the reforms that need to be considered and that ASFA would examine these proposed changes in detail to ensure they delivered the best outcomes for the sustainability of the system.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Including the superannuation sector in CSLR does not achieve the goal of shared responsibility and fairness given the root cause of the misconduct often lies elsewhere, the head of the SMSFA said.
Super funds have continued their growth streak, with the median growth fund on pace for a healthy calendar year return.
ASFA has called for targeted reforms to close the superannuation trust gap among culturally and linguistically diverse Australians.
Former ASIC and APRA leaders launch a conflict-free model to meet rising prudential expectations.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
211.16 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
121.06 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Smarter Money Long-Short Credit Investor USD
68.96 3 y p.a(%)
