Super rip-off? Policy options for a better superannuation deal
Watch a recording of the event
Australia’s superannuation system is one of the world’s largest, with around $1.7 trillion under management. The system will continue to grow, because tax rates are attractive and compulsory contributions are large and growing. Funds are just completing a round of reforms to streamline the system and make products easier to compare. Yet all is not well in the world of super. Some argue that the industry has a short-term bias. Others argue the tax concessions are too high and too focused on high earners and the above-60s. The recent Grattan report, Super sting, showed that superannuation fees are too high and have hardly fallen as the system has grown.
What are the ways forward? Join Sally Patten, Associate Editor of the Australian Financial Review in discussion with Nicholas Gruen, CEO of Lateral Economics and widely cited economic innovator, and Jim Minifie, Grattan’s Productivity Growth program director and lead author of the recent Grattan report Super sting. This Policy Pitch event highlighted findings from the report, discussed the role that superannuation now plays in the Australian economy, and discussed the reform agenda for the sector.