ASFA - the Voice of Super has hailed the appointment of Bill Shorten as the new Minister for Superannuation.
Mr Shorten, previously a parliamentary secretary, was given his first ministry today by Prime Minister Julia Gillard.
"It's great to see a minister who is so familiar with superannuation, having served as a fund trustee for AustralianSuper," ASFA chief executive Pauline Vamos says.
"There is no doubt he understands the importance of super to the economy. He also understands the measures that need to be undertaken to prepare and position the industry for the next 20 years."
Ms Vamos says ASFA looks forward to meeting Mr Shorten to discuss the government's stated policy of increasing the SG from nine to 12 percent and implementing the key recommendations of the Cooper Review, particularly SuperStream.
"It is also a good move to see superannuation so closely aligned with the treasury, given Mr Shorten's additional appointment as Assistant Treasurer.
"We're also looking forward to speaking with the new Minister for Finance, Senator Penny Wong and the role she will undoubtedly play in helping to ensure the continuing strength of the Australian economy."
Ms Vamos paid tribute to outgoing superannuation minister Chris Bowen. "We congratulate Chris on his appointment to the immigration portfolio and thank him for his contribution to super over the last two years."
For further information, please contact:
Pauline Vamos, ASFA Chief Executive, 0433 169 342
Michelle Dunner, ASFA GM Marketing and Communications, 0412 704 016
Sarah O’Grady, ASFA Communications Co-ordinator, 0410 439 966
About ASFA
The Association of Superannuation Funds of Australia (ASFA) is the peak industry body for the entire superannuation sector. It is the only industry body that represents all types of superannuation funds, service providers and fund members.