Inquiry into the structure and operation of the superannuation
Terms of Reference
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The Committee will inquire
into the structure and operation of the Superannuation Industry
(Supervision) Act 1993 and the superannuation industry to ensure that
it provides an efficient, effective and safe regulatory structure for the
management of superannuation funds, with particular reference to:
Whether uniform capital requirements
should apply to trustees.
Whether all trustees should be
required to be public companies.
The relevance of Australian Prudential
Regulation Authority standards.
The role of advice in superannuation.
The meaning of member investment
The responsibility of the trustee in a
member investment choice situation.
The reasons for the growth in self
managed superannuation funds.
The demise of defined benefit funds
and the use of accumulation funds as the industry standard fund.
Cost of compliance.
The appropriateness of the funding
arrangements for prudential regulation.
Whether promotional advertising should
be a cost to a fund and, therefore, to its members.
The meaning of the concepts “not for
profit” and “all profits go to members.”
Benchmarking Australia against
international practice and experience.
Level of compensation in the event of
theft, fraud and employer insolvency.
Any other relevant matters.
For further information, contact:
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Canberra ACT 2600
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