FSC urges use of inter-generational report
The Financial Services Council (FSC) has called on future Federal Governments to set superannuation policy every five years based on the findings of the Treasury’s inter-generational report.
The retiring chairman of the FSC, Macquarie’s Peter Maher, welcomed the announcement by the Federal Treasurer, Chris Bowen, that a re-elected Labor Government would not make significant change to super for a period of five years.
However Maher said the FSC sought to work with both sides of politics and this would be the case moving forward.
He said the financial services industry now needed to move beyond the Global Financial Crisis and the reform agenda contained within the Future of Financial Advice and Stronger Super.
In doing so, Maher said the industry needed to focus on the long term rather than achieving quick profits.
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