Retirement
Consumer body launched to tackle super fund lobbying
An Australian-first independent superannuation consumer advocacy organisation has formally launched today, with the body purporting itself as taking on the $42 million super lobby.
Consumer body launched to tackle super fund lobbying
An Australian-first independent superannuation consumer advocacy organisation has formally launched today, with the body purporting itself as taking on the $42 million super lobby.
CHOICE’s Super Consumers Australia has been established to advance and protect the interests of the nation’s low and middle-income earners in the superannuation system.
According to a statement, the organisation will advocate for consumers through deliverance of research, journalism and policy development targeted at making the superannuation system work better for people.
Previously the Super Consumers’ Centre, today’s launch of Super Consumers Australia coincides with the release of research from the organisation that has revealed more than two-thirds of Australians want an independent group to represent their rights in the superannuation sector.
Commenting on the launch, the organisation’s acting director, Xavier O’Halloran, said that this “is an important day for all Australians with superannuation”.
“From now on, when decision-makers are debating what to do with your retirement savings, there will be a voice in the room advocating for your interests,” he continued.
“The superannuation body is using your retirement savings to lobby against your interests.”
Super Consumers Australia has noted that domestically, there are four major superannuation industry lobby groups representing fund trustees, with combined budgets in excess of $42 million.
“There has been little dedicated consumer representation in superannuation policy for far too long,” Mr O’Halloran said.
“We will be keeping the industry on its toes.
“Trustees need to be held accountable for decisions that end up costing members money.”
About the author
About the author
Superannuation
Aware Super takes on Australia's gender retirement gap, aiming for financial equality
Aware Super, one of Australia's largest superannuation funds with a 70 per cent female membership, is on a mission to close the gender gap that sees women retire with 30 per cent less super than men ...Read more
Superannuation
Age Pension increase prompts Australians to review their finances
The increase in the Age Pension, which takes effect today, should serve as a prompt for many older Australians to ensure they're maximizing their income as cost-of-living pressures persist, according ...Read more
Superannuation
Retirement reimagined as Australian optimism meets inflation worries in 2023 super fund insights
The latest reports on retirement confidence among Australians present a spectrum of sentiments, with fresh data revealing surprising optimism in some quarters while exposing underlying concerns in ...Read more
Superannuation
Aussie retirees face a shortfall as ideal retirement nest egg doubles what super will deliver
As Australians look towards retirement, the desired superannuation balance that many believe will ensure a comfortable retirement has significantly outpaced what they are on track to actually save. Read more
Superannuation
Super funds eye 6.5% return in 2023, despite a rocky start
As the year draws closer to its climax, Chant West unveils its projection for super funds in what can only be described as a year of economic ebbs and flows. Read more
Superannuation
A deep dive into Australia’s superannuation system
Australia has a robust retirement savings system known as superannuation designed to provide financial security to Australians in their post-work years. Read more
Superannuation
50,000 super fund members impacted by data breach
Around 50,000 member records were impacted by the breach that took place earlier this month. Read more
Superannuation
Two super funds tipped to reach $1tn by 2040
KPMG has released the findings from a new review. Read more
Superannuation
Aware Super takes on Australia's gender retirement gap, aiming for financial equality
Aware Super, one of Australia's largest superannuation funds with a 70 per cent female membership, is on a mission to close the gender gap that sees women retire with 30 per cent less super than men ...Read more
Superannuation
Age Pension increase prompts Australians to review their finances
The increase in the Age Pension, which takes effect today, should serve as a prompt for many older Australians to ensure they're maximizing their income as cost-of-living pressures persist, according ...Read more
Superannuation
Retirement reimagined as Australian optimism meets inflation worries in 2023 super fund insights
The latest reports on retirement confidence among Australians present a spectrum of sentiments, with fresh data revealing surprising optimism in some quarters while exposing underlying concerns in ...Read more
Superannuation
Aussie retirees face a shortfall as ideal retirement nest egg doubles what super will deliver
As Australians look towards retirement, the desired superannuation balance that many believe will ensure a comfortable retirement has significantly outpaced what they are on track to actually save. Read more
Superannuation
Super funds eye 6.5% return in 2023, despite a rocky start
As the year draws closer to its climax, Chant West unveils its projection for super funds in what can only be described as a year of economic ebbs and flows. Read more
Superannuation
A deep dive into Australia’s superannuation system
Australia has a robust retirement savings system known as superannuation designed to provide financial security to Australians in their post-work years. Read more
Superannuation
50,000 super fund members impacted by data breach
Around 50,000 member records were impacted by the breach that took place earlier this month. Read more
Superannuation
Two super funds tipped to reach $1tn by 2040
KPMG has released the findings from a new review. Read more