To regain trust and stability in the superannuation industry, a long term view needs to be taken.
What was lost in much of the election discussion around the removal of the refund of franking credits for individuals and superannuation funds, was the tax policy issue that is trying to be addressed.
Given all the coverage of the Royal Commission’s criticisms of the financial services sector, you might be forgiven for thinking the superannuation sector is in a bad way. Far from it.
On Day 2 of the Championships at Royal Randwick, the highlight of the Autumn Racing Carnival, will see the final race of Australia’s champion racehorse, Winx.
The centrepiece of the Budget is the personal tax cuts – and it is welcome, given sluggish wage growth to see action for both lower and middle earners.
In recent months there has been a lot of commentary – and regulatory exhortation – in the superannuation sector suggesting that a wave of fund mergers is imminent.
The proposed changes now appear to strike a more reasonable balance for the industry.
The winds of change are blowing in superannuation: renewed emphasis on governance, culture and accountability
Regardless of how, and in what form, the Report’s recommendations are implemented, they will undoubtedly have a significant impact on the structure of the superannuation industry for many years to come.
The Royal Commission has provided a blueprint for raising the bar on the design, implementation and oversight of remuneration that will have impact beyond just financial services firms.
It’s that time of year again – the first Tuesday in November, when we run the Melbourne Cup! Once again, I have been tasked to find the followers of this blog the winner.