It’s almost thirty years to the day marking Australia’s transformation into a nation of compulsory savers with the introduction of the superannuation guarantee. From humble beginnings, our superannuation system is now the fourth largest pension system in the world.
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The Financial Services Council (FSC) and the life insurance industry have today published the new Life Insurance Code of Practice (the Life Code).
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The Joint Associations Working Group (JAWG) has collaborated to lodge a submission to Treasury’s Quality of Advice Review calling for a more consumer-focused regulatory approach, reduced costs, and greater recognition of professional judgement.
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Australians deserve a superannuation system that is fair, efficient and competitive. When it comes to the regulatory environment, Australian superannuation funds have been navigating the biggest reform agenda since the system’s inception.
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A regulatory framework that empowers consumers to get limited advice on simple or basic issues is the key outcome the FSC seeks from the Quality of Advice Review.
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