The superannuation industry has had a roundly positive response to the appointment in early June of Chris Bowen as the new minister for financial services, superannuation and corporate law.
Now the industry is putting together a wish list for Bowen that should keep him busy for some time to come.
First on the agenda is instilling confidence in the superannuation system.
"The highest priority is restoring confidence in the super system by ensuring people understand the current direction of the reviews," Australian Institute of Superannuation Trustees (AIST) chief executive Fiona Reynolds said.
Both the Association of Superannuation Funds of Australia (ASFA) and the Investment and Financial Services Association (IFSA) would also like to see continued support of the three pillar superannuation system.
"We want to see support from the government, in terms of the fact that super funds have performed very well despite the global financial crisis," ASFA chief executive Pauline Vamos said.
IFSA chief executive Richard Gilbert said his association wants a serious look at the Henry tax review to ensure a strong three pillars system is maintained.
Reynolds said AIST was disappointed in the super section in the Henry review and would like the new minister to understand the concerns it has about the report.
Another item on the agenda for IFSA was default fund arrangements.
"We would like to see Bowen address the issue of competition via the default funds policy," Gilbert said.
The continuation of the Cooper review was an area where the super industry was also united.
"We'd like to see the government really making sure that the Cooper review is seen as a review of the super industry so that we can better provide retirement services," Vamos said.
Reynolds said AIST hoped Bowen would continue Nick Sherry's reforming agenda to "renovate the house" and improve structural and operational efficiencies in Australia's superannuation and financial systems.
While the presenter of Inside Business on ABC TV Alan Kohler was concerned Bowen had the potential to be constricted by the number of reviews he inherited with the position, Bowen said this was just a normal part of taking over a new portfolio.
"Well Nick Sherry, my predecessor, was an active minister in superannuation in particular as well as corporate law," Bowen told the program this week.
"I'm spending my time at the moment getting up to scratch on where they're all at and what their objectives are, and I'll sort them through in a methodical way as the coming weeks and months unfold."
And it seems that so far Bowen has the support of the industry.
Vamos has praised Bowen for being a "big picture man".
"He understands where super fits in terms of the Australian economy, that's why we're pleased he is in cabinet," Vamos said.
Reynolds hoped that Bowen will be as consultative and involved as the former minister Nick Sherry.
Despite Bowen being the youngest member of the cabinet, Gilbert described Bowen as decisive.
"This is a very big role for minister Bowen and we're confident that he'll be equal to the task," he said.
