Media releases

  • Industry Super welcomes positive budget outlook but warns against premature tax cuts – MYEFO reaction

    Posted: Monday 18 December, 2017

    Industry Super Australia has welcomed news that the budget is on track to surplus but warned against implementing tax cuts on the back of economic gains that are yet to be realised.   “The 2017-18 MYEFO charts a more positive outlook than was expected six months ago,” said Industry Super chief economist Stephen Anthony. “The overall path back to surplus relies on ‘Made in China’ strong terms of tr...

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  • Flawed super Bills must be even-handed

    Posted: Tuesday 05 December, 2017

    Industry Super Australia (ISA) has consistently stated that industry super funds support a ‘Member Outcomes’ Test and increased disclosure and enhanced trustee obligations, but that such requirements must result in the same obligations and disclosure outcomes regardless of the type of investment option applied to. The current Government superannuation Bills DO NOT ensure consistent outcomes across...

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  • Political think tank claims desperate and wrong

    Posted: Thursday 30 November, 2017

    A think tank’s claims that millions of dollars are being disproportionately transferred to unions via industry super funds are wrong and politically motivated.  The Institute of Public Affairs’ (IPA) Rivers of Gold paper covered in The Australian today, purportedly utilising public disclosures in fund annual reports, claims unions are receiving disproportionate directors’ fees. The analysis specif...

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  • Super bills fail to address underperforming bank-owned funds

    Posted: Tuesday 21 November, 2017

    Despite the persistent underperformance of bank-owned super funds, the Coalition Government is targeting Australia’s high-performing, not-for-profit industry super funds in three bills before parliament. New independent SuperRatings figures out today show that industry super funds continue to outperform bank-owned super funds - by 2.19 per cent over one year, 2.28 per cent over five years, and 2.1...

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  • Not-for-profit industry super funds are Australia’s top performers over ten years

    Posted: Thursday 16 November, 2017

    Not-for-profit industry super funds dominate the top ten list of Australia’s best-performing superannuation funds over ten years, reveals new SuperRatings analysis out today.  The independent ratings agency has ranked industry superannuation fund, REST, top of the ten-year performance leader-board with an average annual return of 6.1%, followed closely by CareSuper’s Balanced fund with 6.0% and HO...

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  • Banks 'stiff' super customers while Government insists problem is elsewhere

    Posted: Wednesday 15 November, 2017

    Reports today suggesting the corporate watchdog is investigating bank-owned and other retail super funds over a fee gouge that could be worth more than a billion dollars has exposed serious flaws in superannuation bills before the parliament. According to a report in The Australian – ‘ASIC Probes how Banks, Super Funds, Stiffed Customers by Billions’ (15/11/2017) - an investigation has been launch...

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  • Government’s super Bills are ideological, and everyone knows it

    Posted: Tuesday 14 November, 2017

    The Government’s claims to improve members’ outcomes in super might have some credibility if they were backed with evidence rather than embarking on an unprecedented ideological attack on the best performing part of the sector, industry super funds. Rather than put forward credible evidence how its proposals will improve member returns, particularly in chronically underperforming parts of the indu...

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  • Industry Super Australia & COTA team up to talk aged care

    Posted: Thursday 09 November, 2017

    Over-50s consumer group COTA Australia (Council on the Ageing) and Industry Super Australia have jointly hosted a high-level roundtable on superannuation fund investment in aged care, in Melbourne today. Attended by executives from leading not-for-profit industry super funds, discussions focused on how the $2 trillion superannuation sector could support the development of aged care services and vi...

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  • Personal tax concessions that drive up housing prices better spent elsewhere - new report

    Posted: Monday 06 November, 2017

    The $14 billion dished out in individual tax concessions like negative gearing each year would be better spent kick-starting institutional investment into affordable housing projects, says a major new report. One of over a dozen policy proposals listed in its Assisting Housing Affordability discussion paper, Industry Super Australia says personal tax incentives and first home buyer grants have onl...

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  • Thousands of super options leaving consumers bewildered: new poll

    Posted: Wednesday 01 November, 2017

    Banks are overloading consumers with choice, and the public believes the banks have a track record of offering numerous financial products designed to make it hard to assess which is right for them, a new survey finds.  A UMR survey of 1000 Australians, conducted in October 2017 and commissioned by Industry Super Australia, found:  63% believe that the range of superannuation products makes it har...

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