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Superannuation

The study to develop criteria to assess the efficiency and competitiveness of the superannuation system is now complete, and the inquiry to develop alternative models for a formal competitive process for allocating default fund members to products is now underway.

The Commission was required to complete the study within nine months, and the inquiry within 18 months of receiving the Terms of Reference.

For both the study and the inquiry, the Commission was to consult widely, including conducting industry roundtables. The Commission was to provide and publish both draft and final reports.

Both tasks will inform a review of the efficiency and competitiveness of the superannuation system, which the Commission will be asked to undertake following the full implementation of the MySuper reforms (after 1 July 2017).

More detailed information can be found in the terms of reference.

timeline showing how after the initial study an inquiry into default models will be held, both of which will feed into a second inquiry which is a review and then the Government will consider the outcomes by 2020.+ Click to enlarge image

Superannuation Competitiveness and Efficiency

The study developed criteria to assess the efficiency and competitiveness of the superannuation system. The Commission was required to complete the study within nine months of receiving the Terms of Reference. Commissioners working on this study were Karen Chester and Angela MacRae.

Alternative Default Models

The inquiry will examine alternative models for a formal competitive process for allocating default fund members to products. The Commission is required to complete the inquiry within 18 months of receiving the Terms of Reference. Commissioners working on this inquiry are Peter Harris and Karen Chester.

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