The Cooper Review of superannuation overturns a key underpinning of the investment regulatory framework: that investors are rational and informed. When it comes to super, the review says, many of us aren’t.
Superannuation
Art dealers slam ‘meaningless bureaucratic bullshit’ for indigenous industry
From the managers of the remote art centres to the big-city galleries that deal in the fine-art end of the Aboriginal art market, all are still saying that the Resale Royalty scheme will prove to be a financial disaster.
Cox: The fairy tales being told of the RSPT
Sure, I’d like the big bad miners to pay more tax, writes Eva Cox. Who wouldn’t like some extra funds in the public kitty to spend on socially useful ends? But, that’s not what the RSPT is about.
Our tax expenditures are world-beating, but are they effective?
Australia has one of the world’s highest levels of tax expenditures, with $350 billion this year. But this government sees them as much as a source of easy savings as of good policy.
Super: Reckless Labor’s great unfunded swindle
Labor is doing virtually nothing about Australia’s huge middle-class welfare system. The Australian public sector is living beyond its means such that big tax rises and spending cuts are inevitable.
Henry Review: Super increase will hurt low income earners
The raising the super guarantee level to 12% is a sop to the super industry, the ACTU, and a return to Paul Keating’s dream. However, it ignores the serious questions of equity that make extra super not particularly desirable for those on low and intermittent incomes.
The Henry Review, reviewed
Daily media wrap: The Henry Tax Review, and the government’s long-awaited response to it, are in. Does it live up to the hype or did Rudd and Swan wimp out at the finish line?
Henry Review: Few monsters to frighten voters
The Government has created a package based on minimising the losers and maximising the winners, doing little to dispel the impression of cautious, risk-averse leadership.
SUPER: Appeals to low-income earners, ageing population
The Government is appealing to low-income earners and older workers through superannuation reform, with the employment guarantee to be lifted to 12% and its age restriction increased from 70 to 75 years of age.
Will Bowen’s reforms end Australians’ deep disengagement with their super?
Somewhat unexpectedly, Chris Bowen has produced a comprehensive and innovative series of reforms for the financial services industry. But there’ll be no legislation before next year and possibly not until July 1, 2011.
Your Say: Daily Mail readers' feedback: Female workers at a super disadvantage
One Crikey reader argues that changes to superannuation rules works against women. Plus, at least John Brumby sticks up for his states and the mess of NT public hospitals.
Joye: Are Australian share prices inflated?
You know how nearly all Australian superannuation money is invested in the share market? Well, no one is mentioning that the RBA thinks the share market is overvalued. Be cautious, warns Christopher Joye.
Super: why it’s better to be an employee than a customer of a bank
APRA’s superannuation league tables are out again, revealing the sea of red ink caused by the GFC. All the biggest funds turned in dire results, but the in-house bank employee funds fared better. Why?
Kohler: Simplifying the super system
As part of the restructuring of Australia’s superannuation system, the big funds will be divided into two key groups essentially ‘care’ and ‘don’t care’, writes Alan Kohler. Most people don’t care or don’t choose their super fund.
Gottliebsen: The Australian dream is over
Yesterday’s rate rise, coupled with recent changed to Australia’s superannuation policy, locks us into a nation-changing situation: we will soon be a nation of renters, says Robert Gottliebsen.
Thoughts after an Association of Superannuation Funds Australia lunch
If the Government raise compulsory super contributions from 9% to 12%, it will simply subsidise higher income earners’ retirement by foregoing taxes at a ridiculously high level and overtaxing those on lower incomes.
‘KangaSupa’ a one-shot wonder for many policy ills
A capital guaranteed national superannuation fund that only invested in fixed income securities would actually serve as an effective surrogate for a publicly owned bank, writes Christopher Joye.
Labor’s super reforms have only just begun
Chris Bowen has made it clear he regards superannuation as one of the great Labor reforms, and one that can be wielded effectively against the Coalition.
Nest eggs bounce back
Super funds have just seen the sixth straight month of gains after six months of falls, says Shane Wright. But not before the uncertainty of the market has changed retirees’ approach to their superannuation.
Your Say: Daily Mail readers' feedback: Malcolm Turnbull, mother turtle?
Crikey readers weigh in on poor Malcolm Turnbull, their dislike of TomKat, Ashes coverage and the women reading Crikey debate continues.
Canning advisor’s commissions would be super start to reform
It’s been a long fall for the retail superannuation industry and financial planners from their glory year of 2005. Now, the financial planning industry is under fire from multiple fronts and the Government is reviewing superannuation.
Super stinks, but who’s to blame?
Who is responsible for the pathetic state of superannuation in Australia? While it’s tempting to blame your fund manager, it’s not entirely their fault, writes Tom Elliot.
Conflict of interest in the financial services sector: it’s time to act
While Australia conducts a review of superannuation and toys with self-regulation of financial advisers’ conflicts of interest, the United States and the United Kingdom are rapidly moving toward an outright ban on commissions.
GFC: just an excuse to raid retirees’ nest eggs
Banks, fund managers, investment banks and others have staged the largest ever ‘legal’ raid on the nest eggs of Australian investors and retirees.
Your Say: Daily Mail readers' feedback: Utegate and Godwin Grech
Crikey readers on the week that was: Utegate and the infamous Mr Godwin Grech, the Global Financial Crisis, Fruity Fix and superannuation.
