Friday, 29 September 2017

Improving accountability and member outcomes in superannuation measures No.1

AIST recommends that the outcomes assessment outlined in the Bill be modified in order to reflect the importance of net returns above any other criteria in determining the appropriateness of MySuper product offerings and that the assessment should also apply to Choice products. AIST also notes that it is important for funds to have the flexibility to choose the best method to conduct Annual Members’ Meetings, and that APRA’s existing regulatory framework should be reviewed before expanding its powers.