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ASFA survey looks to boost super confidence

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By Reporter
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3 minute read

The Association of Superannuation Funds of Australia (ASFA) is looking to boost confidence in Australia’s superannuation system through a new online survey.

The survey was released as part of ASFA’s consultation process on super and will ask the broader community how the system should evolve to accommodate an ageing population and the longer life span of retirees.

“Community confidence in superannuation has been damaged by the constant tinkering with superannuation rules and policies,” ASFA chief executive Pauline Vamos stated. “People deserve to be able to plan for their retirement without thinking the goal posts are going to be moved all the time.

“This why we believe it’s crucially important we build a national consensus when it comes to superannuation policy, so that decisions can be made that are politically neutral and have the support of the broader community.”

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ASFA’s consultation process commenced in May with the release of a comprehensive white paper on how the system could be adjusted to respond to Australia’s changing demographic make-up.

The association said the survey addresses a number of different areas where policy change might be required in order to create an “adequate income in retirement”.

Ms Vamos said the survey is timely and that there is a a need to look at how demographic factors will affect the outcomes of superannuation over the long term.

“This is a conversation that needs to be started now so we can make the adjustments necessary to ensure we have a system which is sustainable into the future,” she said.

“This is what we believe should be the overarching goal of Australia’s superannuation system: to ensure we all have enough income to live our post-work years with comfort and with dignity.”