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Brighter Super launches lifetime income product in accumulation phase
|The $38 billion super fund has teamed up with TAL to offer members a lifetime income product while still in the accumulation phase.
FinCap beefs up treasury capabilities
|FinCap has welcomed a new member to help scale the firm's private markets managed accounts offering.
smartMonday tweaks fees, MySuper structure
|The super fund is transforming its MySuper LifeCycle structure by shrinking nine options into four distinct categories, while making changes to its investment and administration fees
Former Berndale director jailed for $700k in misused funds
|Former Berndale Capital Securities director Stavro D'Amore has been sentenced to almost four years' imprisonment after admitting to dishonestly misusing nearly $700,000 of company funds and authorising false statements to ASIC.
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Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.







Keating is spot on, except he does not go far enough. The first element of "overhauling" the current Superannuation system is for compulsory contributions by employees. The billions of dollars held in "lost" Superannuation accounts demonstrates that the majority of people do not really see it as their money as they have put no evident skin in the game. Having the contributions made solely by employers gives this impression. Certainly a case can be put 100% that salaries and wages have been and are "adjusted" to allow for the cost of the contributions which could then lead to an impression that the employee is paying. The important issue is the impression & they do not really see this.
The second element is increasing the employer component. I would leave it to someone with superior knowledge like a Paul Keating to accurately (??) determine what is needed. The third element is that there are hundreds of thousands of self employed (sole traders and/or those operating under a partnership) who are not compelled to contribute for their future.
They should have to pay a prescribed higher rate of tax with the increase going towards Superannuation. Little Johnnie was indeed kind with the halving of the Assets Test, but one must also consider that Politicians on taxpayer funded Superannuation (and others) became substantial beneficiaries of the removal of taxation on pensions or moneys extracted from Superannation after age 60. A fourth element should be increasing the age that one can access Superannuation monies. Those who perform heavy duty manual work need to be considered carefully in whatever changes take place as they generally have shorter working capabilities.