AIST boss wants considered policy, not tinkering
There is a need to differentiate between tinkering on taxation and superannuation policy and genuinely considered policy initiatives, according to new Australian Institute of Superannuation Trustees chief executive, Tom Garcia.
Opening the Conference of Major Superannuation Funds (CMSF) in Brisbane, Garcia acknowledged that many members were concerned about the possibility of further tinkering and tax changes that might be unnecessary.
However he said considered change with respect to incentivizing the taking of income streams was something that needed to be considered.
Garcia strongly defended the AIST's approach to super fund governance and rejected suggestions that the model required the introduction of independent directors.
"We are proud of our governance model and while we are willing to inject flexibility we do not believe it requires radical change," he said.
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