Allow super pooling, says research
Female workers would be assisted if couples were allowed to pool their superannuation fund balances, according to new research undertaken by Money Management’s sister publication, Super Review.
A survey undertaken by Super Review during the Conference of Major Superannuation Funds (CMSF) in March canvassed the fact that women and carers were at a disadvantage within the superannuation system and ways in which they might be helped.
Asked what they believed would help address the superannuation disadvantage of women and carers, most respondents supported pooling between couples.
The survey revealed that 43.3 per cent of respondents supported pooling, followed by 23.2 per cent who backed specific additional tax concessions and 20 per cent who believed a higher superannuation guarantee should be put in place in place for women.
Interestingly, in the context of the current Federal Election, there was strong support for removing the current Government’s superannuation guarantee time-table, with nearly 60 per cent respondents stating it should be increased to 12 per cent as soon as possible.
Recommended for you
Financial Services Council chief executive, Blake Briggs, is urging Minister for Financial Services, Stephen Jones, to take advantage of the QAR opportunity to reduce regulatory duplication and ensure advice is affordable.
Former chair of the House of Representatives’ Standing Economics Committee, Tim Wilson, is planning a return to politics after losing his seat in the 2022 federal election.
Morningstar is going to offer research ratings of funds in the $3.5 trillion superannuation sector for the first time in response to demand from financial advisers.
Treasurer Jim Chalmers has opened a consultation into the design of the annual superannuation performance test, canvassing views on a range of reform options.