Let’s build a community consensus on super: ASFA

The Association of Superannuation Funds of Australia (ASFA) today released a White Paper, designed to serve as a basis for a broad consultation process regarding the future of Australia’s superannuation system.

The Paper outlines a proposal for a sustainable super system which delivers enough income for all Australians to live a comfortable retirement.

Feedback and submissions are being sought from industry, stakeholders and the broader community, with the goal being to develop a national consensus towards retirement incomes policy.

ASFA CEO, Ms Pauline Vamos, says that while the announcement of no new unexpected changes to super in the Federal Budget is welcomed, now is the time to look forward and determine how Australia’s superannuation system will work into the future.

“There’s no doubt that Australia is recognised as having one of the best superannuation systems in the world, however our ageing population poses new challenges which will require policy makers to make adjustments to accommodate these into the future. This is why we need to start thinking now about how we can ensure the system evolves as the environment it operates in changes. The key to making successful changes to retirement policy is providing a long lead time so that people can plan.”

“This is not a conversation industry can have just with itself. We need to ask the community how they want their retirement to look and what their expectations about how they want to spend their post-work years.”

“This is why we are calling for feedback and input from across the community, so that their views can be collected outside of political hype.”

“Let’s de-politicise super and move towards a bipartisan approach to policy which helps people achieve the lifestyle they deserve in retirement.”

ASFA has launched a website with further information regarding the consultation process and the future of Australia’s superannuation system available at www.superannuation.asn.au/vision-for-super.

Submissions can also be lodged via this link which will remain open until 14 August 2013. The outcomes of the consultation process will be launched at the ASFA Conference in November 2013.

For further information, please contact:

Lisa Chikarovski, Media Manager, 0451 949 300

About ASFA

ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political national organisation whose aim is to advance effective retirement outcomes for members of funds through research, advocacy and the development of policy and industry best practice.