The Productivity Commission (PC) published its draft report relating to allocating default contributions to superannuation funds, a few weeks ago. Their focus was around the issue of competition, and their core finding related to information problems in the market, i.e. buyers are disengaged because they don’t have enough information. Currently, the Employer selects a default […]
About Bernie OBrien
This author has yet to write their bio.Meanwhile lets just say that we are proud Bernie OBrien contributed a whooping 7 entries.
Entries by Bernie OBrien
Following on from a blog I published a while back on Public Policy in Superannuation, where I suggested the debate around independence of trustees will play out in 2017. I thought I’d provide an update given events are off and running. Bernie Fraser has finally published his long awaited review of board governance of Not […]
Outside of what the prudential regulator has been doing in Superannuation, there has been a fair bit of other movement on issues relating to the policy position on Superannuation. On March 16 last year, the Productivity Commission (PC) opened a consultation process on Superannuation Competitiveness and Efficiency. After seeking submissions and considering them it released […]
Not the most breath-takingly interesting year in regulation, but after a few really busy ones that’s no bad thing I guess. Here’s what happened… In early April APRA released their report on the investigation into the TRIO affair, which resulted in 13 individuals being banned from acting as directors for various periods of time. The […]
The final nail is being hammered into default superannuation. The Turnbull Government’s response to the Financial Services Inquiry (FSI) has been to accept the all but a few of the recommendations. It’s been Coalition policy to decouple super from awards since well before the last election, but they weren’t ever going there quickly. The senate […]
Superannuation is without doubt one of the most outsource friendly industries in the world. Administration, contact centre, investment management, registry, custody, marketing, insurance, even trusteeship in a mastertrust, the list goes on. Of course not all funds outsource all these components, but many do. Overlay the fact that fund trustees and executives lament the difficulties […]
We know the Fair Work Commission (the FWC) is currently undertaking the first of what will become regular four-yearly reviews of which superannuation funds will be listed in each of the 122 Modern Awards. What we don’t know is why. What social or economic purpose does this review serve? The level of dislocation that this […]
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