AUSTRALIA - ASFA has proposed several measures to "facilitate" increased contributions to superannuation in its pre-Budget submission, released today.
Commenting on the proposals, Association of Superannuation Funds of Australia CEO, Philippa Smith, said: "The government has a golden opportunity to build on the solid foundation of the Simpler Super changes in last year's Budget, and put in place strategies to significantly help individuals contribute to and achieve more adequate retirement incomes."
ASFA recommends: introducing 'soft compulsion'; making co-contribution available to more people; allowing super funds to provide benefit projections to individual members; and legislating for salary sacrifice arrangements to be provided to employees on request.
Smith stated the aims of the pre-budget submission were to increase the retirement savings of lower and middle income earners and encourage younger Australians to actively engage in their savings plan.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.