Industry funds on guard
A conference of industry superannuation funds has been warned of the implications of a minority Coalition Government for the not-for-profit sector.
The chairman of the Australian Institute of Superannuation Trustees (AIST), Gerard Noonan warned a Coalition Government might comb the findings of the Cooper Review to map out a way to disadvantage the not-for-profit sector.
He added the higher super guarantee would also be in jeopardy while planner commissions would remain in place.
Noonan said in these circumstances, industry funds needed to be on guard until a more settled position eventuated in the Senate next year.
He also claimed there was a need for fund managers to review their fee structures to take account of the changes wrought in the aftermath of the global financial crisis.
AUTHOR
Mike Taylor
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