Abbott commits to super certainty
The Federal Opposition has used its first policy document of 2013 to commit to delivering more certainty around superannuation policy, effectively promising no "negative unexpected changes".
The promise is contained in the so-called "Our Plan" document released by the Federal Opposition leader, Tony Abbott, which also accuses the Labor Government of wasting money and making "threats and changes" to the superannuation system.
The policy document wording confirms undertakings given by the Shadow Assistant Treasurer, Senator Mathias Cormann, around concessional contribution caps and excess contributions but remains very unspecific on the key issues.
The policy outline discusses superannuation by saying "it is unfortunate that Labor has wasted so much money and made so many threats and changes to the superannuation system, cutting back on contribution levels and discouraging many people from providing more for their own self-funded retirement".
"This has not been in the long-term interests of Australians or Australia," it said.
"We will ensure that no more negative unexpected changes occur to the superannuation system so that those planning for their retirement can face the future with a higher degree of predictability.
"We believe the people who want to plan and save for their own retirement should be supported by government, not penalised," the Liberal Party document said.
A number of political commentators have criticised the "Our Plan" document for its lack of specifics and its failure to deliver any discernable new policy announcements.
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
