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The structure and operation of the superannuation industry

7 August 2007

View the report as a single document - (PDF 1382KB)

View the report as separate downloadable parts:


Members of the Committee	(PDF 139KB)

Duties of the Committee	(PDF 130KB)

Terms of Reference	(PDF 129KB)

Executive Summary	(PDF 189KB)

Recommendations	(PDF 110KB)

List of abbreviations	(PDF 131KB)

Chapter 1 - Introduction	(PDF 163KB)
Background Conduct of the inquiry Committee’s approach Report structure and chapter summary Acknowledgements

Chapter 2 - Prudential framework, industry trends and benchmarking international practice	(PDF 276KB)
Background Prudential regulation Regulators Prudential framework Committee view Industry trends: A snapshot Benchmarking international practice

Chapter 3 - Transparency in reporting requirements	(PDF 300KB)
Promotional advertising ’Not for profit’ funds and service providers Regulatory overlap

Chapter 4 - Member investment choice and the role of the trustee	(PDF 262KB)
Member investment choice

Chapter 5 - Capital requirements and other safety issues	(PDF 308KB)
Capital requirements and unit pricing APRA standards Funding prudential regulation Compensation arrangements Portability and exit fees Safeguarding lost superannuation

Chapter 6 - The cost and accessibility of financial advice	(PDF 339KB)
Legislative framework The role and significance of financial advice on superannuation The provision of affordable limited advice Suggested regulatory changes Committee view Comprehensible disclosure material

Chapter 7 - Remuneration models for financial advice	(PDF 357KB)
Legislative standard for financial advice Remuneration models Sales-based remuneration and the quality of advice Remedies to improve the quality of advice Education and financial literacy

Chapter 8 - Self-managed superannuation funds	(PDF 271KB)
Self managed super funds Regulatory and compliance arrangements Possibility of minimum threshold for viability Limiting owner numbers The appropriateness of the ATO as regulator of SMSFs Australian Financial Services Licence: accountants’ exemption

Supplementary Report by Labor Members	(PDF 125KB)

Appendix 1 - Submissions received by the Committee	(PDF 112KB)

Appendix 2 - Public Hearings and Witnesses	(PDF 109KB)

Appendix 3 - Additional information, tabled documents, and answers to questions on notice	(PDF 157KB)

Appendix 4 - Senator Chapman’s Adjournment speech, Industry Super Network’s response and Questions on Notice to Industry Super Network and Mr Garry Weaven	(PDF 214KB)

Appendix 5 - APRA’s 10 years of superannuation statistics*	(PDF 301KB)
*PDF Format Only

For further information, contact:

Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
Department of the Senate
PO Box 6100
Parliament House
Canberra ACT 2600
Australia

Phone: +61 2 6277 3583

Fax: +61 2 6277 5719

Email: corporations.joint@aph.gov.au

Comments to: web.senate@aph.gov.au
Last reviewed 13 August 2007 by the Senate Web Administrator
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