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Both Bill Shorten's and Kenneth Hayne's recommendations were based on assumptions.
When does a Govt or someone with the level of power and influence provided to Hayne recommend potentially detrimental changes to individual superannuation members based on assumptions ?
The Govt does not have the right to quarantine one group of superannuation members who were transitioned to a MySuper product as to not have a choice as to how they decide to pay for advice and services.
Effectively, the proposal to disallow advice fees to be paid from a MySuper account is disadvantaging the very group they sought to " protect" from the nasty financial adviser !
At the very basis of all this bullshit regulation is the call for the enhanced consumer outcomes.
It will parroted time after time after time from left wing consumer groups and left wing lawyers and at the end of the day, they are removing a simple right to have a choice and elect to pay for advice as other superannuation members may be able to.
It is effectively treating these members as a second class super members who need to be "managed " by the Govt.