Actuaries Institute Chief Executive David Bell welcomed the changes to the superannuation tax reform package announced today by Treasurer Scott Morrison.
“The proposed changes meet the overall targets for the superannuation and retirement incomes system of adequacy, equity and sustainability. Today’s announcement represents a reasonable compromise in order to allow the package of much needed superannuation tax reforms to proceed” Mr Bell said.
“However, the Government needs to avoid constant tinkering with the system as this undermines consumer confidence in superannuation.”
Mr Bell urged the Government to concentrate on establishing the strategic objectives for the whole retirement system including the Age pension and the Superannuation Guarantee, with complementary objectives for each component.
