BT backs PC’s super recommendations

BT/bt-financial-group/productivity-commission/PC/recommendations/superannuation/BTFG/

11 January 2019
| By Anastasia Santoreneos |
image
image
expand image

BT Financial Group has shown its support for Productivity Commission’s (PC’s) key recommendations on superannuation, particularly the ‘best in show’ proposal, and expects to consider in detail 31 of those recommendations.

BTFG also backed the PC’s proposal of only ‘defaulting once’ for new entrants to the workforce and its recognition of the value of life-stage investing.

BT general manager of superannuation, Melinda Howes, said the report presented an opportunity for both sides of politics to agree a bipartisan model of superannuation regulation.

“Overall, the PC has put aside the ideology that undermines the industry and has crafted recommendations that are in the best interests of consumers,” she said.

Howes also said she pleased that the recommendations were for the assessment and selection of default superannuation funds based on merit.

“A merit-based selection process is the best way to get the superannuation system onto a stable and bi-partisan regulatory framework.”

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND