Default Superannuation Funds in Modern Awards

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• Default Superannuation Funds in Modern Awards - Inquiry report (PDF - 1833 Kb)
• Default Superannuation Funds in Modern Awards - Inquiry report (Word/ZIP - 1133 Kb)

Download the report by chapters

• Preliminaries (PDF - 325 Kb)
  • Cover, Copyright, Letter, Terms of reference, Contents and Abbreviations
• Overview - including key points (PDF - 245 Kb)
• Recommendations (PDF - 172 Kb)
• Chapter 1 About the inquiry (PDF - 132 Kb)
  • 1.1 Background to the inquiry
  • 1.2 What has the Commission been asked to do?
  • 1.3 The Commission’s approach to the inquiry
• Chapter 2 Default superannuation funds in modern awards (PDF - 316 Kb)
  • 2.1 Default superannuation funds as part of Australia’s
    superannuation system
  • 2.2 Australia’s industrial relations system
  • 2.3 Superannuation in awards
• Chapter 3 Conceptual framework (PDF - 210 Kb)
  • 3.1 Potential impediments to meeting the best interests of members
  • 3.2 The Stronger Super reforms
  • 3.3 Framework for assessing the case for further reform
• Chapter 4 Investment performance (PDF - 358 Kb)
  • 4.1 Investment strategies and objectives
  • 4.2 Investment performance
  • 4.3 Fees and costs
  • 4.4 Scale
• Chapter 5 Governance and transparency (PDF - 276 Kb)
  • 5.1 The importance of good governance
  • 5.2 The Government’s response to the Cooper Review’s governance
    recommendations
  • 5.3 Superannuation board governance
  • 5.4 Board tenure and renewal policy
  • 5.5 Managing conflicts of interest
  • 5.6 Flipping of members
• Chapter 6 Other potential criteria (PDF - 283 Kb)
  • 6.1 Insurance
  • 6.2 Financial advice and member education
  • 6.3 Industry connectedness
  • 6.4 Administrative efficiency
• Chapter 7 Performance of the default superannuation fund selection system (PDF - 404 Kb)
  • 7.1 The current fund selection process
  • 7.2 Meeting the (relevant) employees’ best interests
  • 7.3 Contestability and competition
  • 7.4 Transparency
  • 7.5 Procedural fairness
  • 7.6 Regular assessment
  • 7.7 Minimising regulatory burden
  • 7.8 Market stability
  • 7.9 Consistency with other policies
  • 7.10 Overall assessment of the current process
• Chapter 8 Reforming the selection process (PDF - 454 Kb)
  • 8.1 Participants’ views — Option 1
  • 8.2 Participants’ views — Options 2, 3 and 4
  • 8.3 Commission’s view — Option 1
  • 8.4 Commission’s view — Option 2
  • 8.5 The Commission’s recommended approach
  • 8.6 Assessment of the recommended process
• Chapter 9 Maximising the benefits of the proposed reforms (PDF - 349 Kb)
  • 9.1 Implement the reforms as soon as practicable
  • 9.2 Promptly inform affected employers
  • 9.3 Assist affected employees to understand the changes and make
    informed decisions
  • 9.4 Allow a reasonable transition period for employers and funds
  • 9.5 Ensure that the Default Superannuation Panel has appropriate
    skills, resources and legal status
  • 9.6 Provide clear information about default products and their
    selection
  • 9.7 Review the new process for selecting default products, including
    the factors for consideration
• Appendix A Public consultation (PDF - 164 Kb)
• Appendix B International experience — default funds in pension systems (PDF - 183 Kb)
• References (PDF - 225 Kb)