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Article: Senator Coonan sells super short.
- Article from:
- Australasian Business Intelligence
- Article date:
- September 10, 2003
CopyrightCOPYRIGHT 2003 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sep 10, 2003 (The Sydney Morning Herald - ABIX via COMTEX)
The Australian Government's proposals on superannuation choice and portability have been rejected. On 10 September 2003, the Senate Superannuation Committee unanimously rejected a proposal drawn up by the Assistant Treasurer, Helen Coonan, to use regulations to enforce superannuation portability after an earlier Bill on member choice was rejected in the Senate. Her latest proposal was rejected because of the lack of transparency surrounding fees and charges. While all super funds essentially invest members' funds in the same vehicles, they differ in their fee structures, making it difficult for members to ...