The Federal Treasurer is looking at ways of giving Australians greater super choice as invest for their retirement
The federal government is looking to bring more competition to the superannuation sector by providing Australians with greater choice of default funds.
‘It’s not the fund’s money, it’s not those who run the fund’s money, it’s the workers’ money,’ Treasurer Scott Morrison told reporters in Canberra on Tuesday as the government outlined its response to the Murray inquiry into the financial system.
‘They shouldn’t be stopped, prevented as they currently are, under various agreements and awards from having their own money going to the fund where they want it to go to.’
The government will ask the Productivity Commission to provide a framework that allows people to make a good super choice.
‘We want to give them the choice about how their own money is being invested,’ Morrison said.
AAP
