The Association of Superannuation Funds of Australia (ASFA) welcomes the announcement today that the start date for the choice product dashboard has been delayed until 1 July 2015.
ASFA CEO Ms Pauline Vamos says in order for the community to get an accurate picture of how funds compare, it's important the dashboard be developed using a considered approach.
"The product dashboard is an important tool to help people make choices about where they put their retirement savings, therefore it's crucial we get it right. Given that the MySuper product dashboard is relatively new and has received a mixed response from the industry and the community, it is essential that the process of developing and testing the dashboard for choice products is not rushed.
"Allowing more time to test the dashboard with consumers will ultimately result in a better tool that gives people a clearer and more accurate picture of how funds compare. We look forward to working with the government to help ensure the industry delivers a product dashboard that will help all Australians make the best decisions about their retirement savings."
For further information, please contact:
Lisa Chikarovski, Media Manager, 0451 949 300.
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, which aims to advance effective retirement outcomes for members of funds through research, advocacy and the development of policy and industry best practice.