Policy & Research Archive

2018 AIST Submissions

Thursday, 12 April 2018

Insurance in superannuation voluntary code of practice

This supplementary letter addresses the Productivity Commission’s consideration of insurance in the third stage of their inquiry into the competitiveness and efficiency of the superannuation system...

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Tuesday, 10 April 2018

CP 298: Oversight of AFCA

AIST supports appropriate regulatory guidance for disclosure regarding complaints resolution processes. Provision must be made for any delays in the transition to the new AFCA regime, and AIST sup...

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Friday, 6 April 2018

APRA member outcomes consultation

AIST supports the proposals which have an ongoing focus on improving member outcomes. AIST notes that there are three key issues which are fundamental and need addressing, being the difficulty of m...

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Friday, 23 March 2018

Regulations supporting transfer of early release of superannuation function to the ATO

AIST supports transferring the responsibility of assessing early release applications from the Department of Human Services to the Australian Taxation Office. However, we believe the regulations co...

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Tuesday, 20 March 2018

Competition in the Australian Financial System – Draft Productivity Commission Report

AIST agrees with the draft Report’s themes that consumers are losing their market power to shareholders and this causes consumer detriment. A consumers first approach is needed through ensuring ge...

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Tuesday, 20 February 2018

Expert Review of Superannuation Fees and Costs Disclosure Regime

AIST supports the Expert Review. Our key concerns with the Disclosure Regime stem from members being placed in a position of not being able to compare products, the inability at system level of com...

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Friday, 16 February 2018

Means testing of retirement income streams

In this submission, AIST offers a guarded support for the proposed means test treatment outlined in the Position Paper. Whilst we support the principles underpinning this paper, we do not believe t...

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Friday, 16 February 2018

Draft legislation - SG integrity measures

AIST supports the measures contained in this exposure draft. However, we recommend further measures to effectively address the systemic problem of unpaid superannuation. This submission includes re...

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Monday, 12 February 2018

Early Release of Superannuation Benefits

AIST believes that individuals should be able to access superannuation savings prior to retirement, but access should only be permitted in limited circumstances as early access can limit an individ...

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Friday, 9 February 2018

Product Design and Distribution Obligations and Product Intervention Power – Draft Legislation

We strongly support the Bill and ASIC’s Product Intervention Powers. However, we recommend that the Bill be amended so that all stages of the intermediated models of production and distribution are...

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Friday, 2 February 2018

Tax Integrity Measures

AIST supports these measures which will reduce the ability of LRBAs to circumvent restrictions on contributions. We point out that fund leverage adds to systemic risk in the financial system, and p...

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