Coalition signals super policy changesBY ALEX DUNNIN | FRIDAY, 12 JUL 2013 10:10AMThe coalition has signalled that if it wins the 2013 federal election it will institute major reforms regarding how super funds appoint trustees while expecting funds to speed up how they pass on scale fee benefits. |
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David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson writes.
The statements made by the Member for Bradfield are offensive and show yet again how out of touch he and his ilk are. I was a Director/Trustee for a period of twenty plus years along with five others (including three Company Directors) on a voluntary basis. The only reason we gave it away was due to the increased regulation and protections caused by the actions of the professionals and now it is stated that there is no competition because of the compulsory schemes. What the Member would be better at is cleaning up the disasters caused by the paid professionals but levied against the entitlements of the members of funds.
Of course that will happen the same time as a polly will never get more than the average worker receives in annual salary increases or allowances. Rather than trying to get the snouts into the trough by so called independents being appointed a bigger effort in making sure that the exact same transparency applies to retail and corporates alike is required.
I know it maybe hard for you to actually be consistent in the approach but it would be a nice approach if it was honestly attempted by the coalition instead of the continued attack on people doing a job and meeting the requirements laid down by the legislation.