What will Australia’s superannuation landscape look like in 2030?
WEAVEN: Unfortunately, one of the biggest impacts on superannuation going forward will continue to be politics. The immediate federal election is a prime example of that. While the government has committed itself to a gradual increase in employer contributions offset by reduced company tax, and has also already embraced many of the Cooper reforms, their introduction will depend on the election. On the assumption that the reforms are effectively implemented, there will be enhanced competition and efficiency. The bank-owned funds will continue to grow because of their strong hooks into customers including businesses, industry funds will continue to grow because they have never depended upon paying sales commissions to advisers and because of their strong long-term investment record. Some of the other retail funds will be challenged to find new methods of distribution. The corporate funds will continue to disappear. As for self-managed funds, their growth will be impacted by the removal o
