Super industry expects consultation on changes

There is an expectation in the superannuation industry that the Federal Government will consult before seeking to implement changes to the superannuation regime.

SMSF Association founder and chief executive, Andrea Slattery has told a Money Management roundtable that in her dealings with the Treasurer, Scott Morrison, she had felt that while changes to the superannuation settings were inevitable, there would be consultation around those changes.

Slattery said she had emphasised with the Treasurer the need for stability and certainty in circumstances where investors were experiencing extreme market volatility and where, in her opinion, the level of confidence in super was at an all-time low.

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The SMSF Association's new chairman, Andrew Gale, said he believed that the Government was looking at a range of options on super but was also looking to consult with the industry, particularly on implementation issues.

"Whatever mechanisms they are looking at they're looking to an engagement and consultation process around how things will be implemented and whether there are any unintended consequences," he said.

"I think [there's] a genuine offer of working with the superannuation industry to make it as least disruptive as possible," Gale said.

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