SMSFs in advance of Stronger Super

The one key change set to come through on the back of the Government's Stronger Super reforms lies in both the information available and superannuants' interest in it, according to Andrea Slattery, Chief Executive Officer of the Self Managed Super Funds Professionals' Association (SPAA).

Slattery said the reason the Stronger Super reforms had come out so favourably for self-managed super funds (SMSFs) was that the sector already undertook the majority of the proposed changes as a matter of course.

"So we're not going to see a lot of difference in the way in which specialised advice, engaged clients, genuine decision makers and information is going to change," she said. "But I think where there is going to be change within super itself where there'll be more information about super as a whole.

"The clients and members of funds will have more information, the advice will be improved and this is across the board."

Slattery said that it was also her expectation that members' engagement would lift, as well as their ability and capacity to make decisions about their own personal circumstances. 

"I think we're talking about some of the things that were perhaps not allowing the system to move forward as efficiently and effectively as it could, and introducing things that are basically creating the capacity to do that."