What is your test for a super future?

April-21-2011

Greetings Super Enthusiasts!

I am writing this blog on my trusty ol’ Blackberry (poor thumbs) from a rather wet Byron Bay. Yes, even this super enthusiast needs some “reflection” time every once in a while… and what better way to do this than at the Blues and Roots festival, listening to the beautiful sounds of Bob Dylan, Grace Jones, BB King, Taylor Swift (WHAT! that is what happens when you leave your iPod in charge of your 8 and 10 year old daughters).

The industry has been extremely busy with its main focus, Stronger Super. We have seen and heard many and varied views and no doubt we will hear more.

As an industry, we seem to be seeking alignment on important, and often complex, issues like auto consolidation, ecommerce, MySuper etc. But maybe that is too ambitious. After all, it is already clear that Stronger Super will not always be “win/win” when improving our super system to meet the needs of members for the next 20 years and beyond.

I strongly believe that whatever we do has to meet only one simple test: “Is it in the best interest of the member in the long run?” If the answer is “yes”, we must do it, even if that means some  (or a lot of) pain for some in the meantime.

Now it is your turn. What is your test and are you prepared to share it with us?

Enjoy your Easter Break (I know my thumbs will….) and please be careful on the roads.

Yours in Super

Hans

3 Comments

  1. Daniel April 28, 2011 at 2:15 pm

    Hi Hans, WRT ur test for improving the super system, sometimes being in the best interest of members is not necessarily in the best interests of the industry. isn’t that how industry super got left behind in the first place – by being low cost = therefore more profits to members?

  2. Alin85 April 29, 2011 at 1:37 pm

    Industry funds aren’t behind coz theyve put members first, its put them in front. Think about it, that’s why My Super is trying to make all default accounts be like industry fund ones.

    I think super is all a fee game really because you don’t get enough money to retire on now so if you can keep the fees coming out low for your whole life then you are going to have more cake to eat at the end. That’s why i think industry funds are spot on and why they should keep doing what theyve been doing.

  3. Neville Pearce May 6, 2011 at 4:07 pm

    Hi Hans,
    I certainly think that there is plenty of win/win in Stronger Super for members. However some pain for funds and administrators. We need to have a strong government to implement the changes. Unfortunately the facts of a “hung” parliament make this, by necessity, a concensus/compromise at present.
    Hopefully we can make some ground with some mandated standards.
    Regards,
    Neville

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