Regulatory reform still needed
The Superannuation industry continues to be less than happy with both the number of regulators impacting on the sector and the number of ratings houses and their methodologies.
IUS/Super Review have for the past three years visited the question of the number of regulators operating in the superannuation sector, and there appears to have been no diminution in feeling against the existence of multiple regulators.
The survey has also previously visited the question of ratings houses and found a similar level of unhappiness.
Asked whether they believed the industry would be better served by having a single regulator, 92.5 per cent answered ‘yes’, with just 7.5 per cent answering ‘no’.
This result was consistent with the answers obtained in the surveys held in 2005 and 2006.
The survey suggested to respondents that a lot of claims had been made about which superannuation funds performed best and then asked them whether they believed there should be a common rating system.
In a result similar in its strength to the assessment of the number of regulators, 92.5 per cent of respondents favoured a common rating system, while just 7.5 per cent were opposed.
AUTHOR
Mike Taylor
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