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Administration, Policy and Governance Articles
A Better Future for Super
You can almost hear the collective sigh of relief as 2009 draws to a close. After surviving the near collapse of the global banking system in 2008, this year has seen unprecedented scrutiny of all aspects of the financial services industry. With several federal government reviews evaluating Australia's retirement income system, the superannuation industry faces inevitable change in the years ahead.
Supplementary Submission on Retirement Incomes to Australia's Future Tax System Review
The Henry review presents a once-in-a-generation opportunity to reform Australia's tax and transfer system to meet the challenges of the future. With an aging population it is essential Australia has an equitable and efficient retirement income system that allows individuals to enjoy a decent standard of living in retirement. Australia's tax and transfer system is integrally linked to our superannuation system by influencing incentives to save and determining final retirement income outcomes.
The Ideal Fund - Reengineering the Fund Value Proposition
The Ideal Fund - Reengineering the fund value proposition, June 2009 is research from PricewaterhouseCoopers Luxembourg and Caceis Investor Services. It is based on the Undertakings for Collective Investments in Transferable Securities (UCITS) framework which covers mutual funds in the European Union (EU) and is designed to stimulate debate and serve as a catalyst to drive positive change in the long-term investment industry in the EU.
International Trends in the Provision of Retirement Income Solutions Part I - International Market Background
On 13 May 2008, the Australian Government announced a comprehensive review of Australia's taxation system, to be chaired by Dr Ken Henry, commonly referred to as the Henry Review. The final report is due for delivery in December 2009, and together with the Harmer review, represents a significant assessment of retirement income policy.
The Case for a Universal Default Superannuation Fund
The existing superannuation system is built on a contradictory notion of the way people make financial decisions. On the one hand, the concept of compulsory superannuation suggests that Australians are myopic, irrational and have to be forced to save. On the other hand, when forced into the system, fund members are assumed to be informed and discerning investors, able to make rational decisions about how to allocate their retirement savings among a host of competing alternatives. Only one of these opposing views can be correct and it is the responsibility of policymakers to design systems that accommodate real-world human behaviour.
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