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Superannuation
The Australian Prudential Regulation
Authority is the prudential regulator of superannuation funds, banks,
insurance companies, credit unions, building societies and friendly societies.
This site contains useful information on prudential regulation, and is
the primary source of superannuation statistics. ASFA, the Association
of Superannuation Funds of Australia, produces an online superannuation
dictionary.
Apart from administering the taxation laws that apply to superannuation
funds and benefits, the Australian Taxation Office is
the prudential supervisor for Self managed Superannuation Funds. It also
administers the Superannuation Guarantee Scheme and the Superannuation
Holdings Accounts Reserve.
The Treasury
's Retirement Income Modeling Unit Task Force (RIM) models the impact
of retirement income policies and provides advice on policy options affecting
retirement incomes. Their publications are available from the Treasury
web site (click on publications). The 2001 Centenary edition of Economic
Roundup contains an article on the
history of Australian retirement incomes since Federation.
Estimated tax expenditures related to superannuation are set out in Appendix
B (page 157) of the Treasury's 2005
Tax Expenditures Statement.
The Australian Securities
and Investments Commission regulates market integrity, disclosure
and other consumer protection laws as they apply to superannuation (including
the conduct of investment advisers).
The Senate
Standing Committee on Economics deals with superannuation isses that
have been referred to it by the Senate.
The Department of Finance
and Administration administers the Parliamentary Contributory Superannuation
Scheme and oversees the Australian government employee superannuation
schemes.
Comsuper administers superannuation
schemes for members of the Australian Public Service, participating employers,
and members of the Australian Defence Force.
Industry Organisations
The Association of Superannuation
Funds of Australia (ASFA) is the peak industry body of the superannuation
industry.
The Australian Institute of Superannuation
Trustees (AIST) is an independent body established by trustees for
trustees of superannuation funds.
The Financial Planning Association
represents the views of the financial planning industry to key decision
makers including government and media, and promotes improved quality of
financial advice for consumers, and high standards of ethical and professional
behaviour among its members.
The Industry Funds Forum
is Australia's association of industry superannuation funds. It aims to
represent Industry Superannuation Funds, their Trustees, members, and
participating employers in public debate on superannuation and retirement
incomes policy.
The Investment and Financial Services
Association (ISFA) is a non-for profit organisation that reprresents
the funds mamagement industry in Australia ie those those organisations
that invest superannuation funds on the behalf of super funds.
The Institute of Actuaries of
Australia is the sole professional body for actuaries in Australia.
It is the public face of a learned profession, which represents the interests
of its members within Government, the business community and the general
public.
Consumer information
FIDO is the ASIC's
consumer advice website. It contains information on various aspects of
financial planning including supernnaution.
Financial
Information Service (FIS) is a free not-for -profit financial education
and information service that is availaable to anyone. It is funded by
the Federal government under Centrelink's budget.
The National Information Centre on
Retirement Investments (NICRI) is a free confidential service funded
by the Federal government, providing independent information on planning,
saving for retrirement and post-retirement investing. NICRI aims to improve
the level and quality of investment information available for people with
modest savings.
Parliamentary Library publications on superannuation include:
- Superannuation
ready reckoner: taxation, preservation, self-managed superannuation
funds and social security rules for 2005–06, Research Brief
no.3, 26 September 2005
- The
Future Fund, Research Note no.43, 4 April 2005
- Superannuation
investment in infrastructure, Research Note no.42, 4 April 2005
- Superannuation
ready reckoner: taxation and preservation rules for 2004–05–revised
February 2005,
Research Brief no.10, 14 February 2005
- Superannuation
ready reckoner: taxation and preservation rules for 2004–05,
Research Brief no.6,
29 November 2004,
- Parliamentary
allowances, benefits and salaries, e-brief, issued 1 July 2004
- Superannuation
ready reckoner: taxation and preservation rules for 2003-04, Current
Issues Brief no.11,
3 May 2004
- Superannuation
Benefits for Senators and Members, e-brief, issued 24 February 2004
- Choice
of Superannuation Fund, are the Financial Planners Ready?, Research
Note no.1, 21 July 2003
- Superannuation
Preservation Rules: A Summary, Research Note no.22, 19 February
2002
- Superannuation:
Taxation Issues and Discussion of Proposals for Reform, Research
Paper no.22,
27 February 2001
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