Statement by ASFA CEO Mary Delahunty:
“Australians rightly expect strong regulatory protections throughout the superannuation system, including in platforms. Regulatory protections mean Australians can trust the system to work in their best financial interests and allow them to make informed choices about how their retirement savings are invested with confidence.
“As super balances grow, protecting members requires coordinated effort across the entire system including financial advisers, platforms, super funds, regulators and policymakers. ASIC’s report is a helpful warning that shows where uplift is needed to meet community expectations of strong guardrails around financial advice practices and switching.
“ASFA will continue to work across the super system and alongside our platform members to ensure the required improvements are made,” Ms Delahunty said.
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Members of the media may contact:
Scott Roberts
Media and Content Lead
sroberts@superannuation.asn.au
0451 949 300
About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry, and the only industry body that represents all parts of the APRA-regulated system.
Our more than 100 members include retail, industry, corporate and public sector funds and their service providers. For over sixty years, ASFA has been the voice of super, advocating for a dignified retirement for all Australians. Through research, advocacy and collaboration, ASFA promotes efficiency, sustainability and trust in Australia’s world-class retirement income system.