The SMSF Professionals’ Association of Australia (SPAA) has supported the Government taking the first step to set up a Council of Superannuation Custodians.
The Minister for Financial Services and Superannuation, Bill Shorten, last week announced the setting of a Charter Group that will “seek input on the establishment of a Council of Superannuation Custodians”. Five prominent industry figures were appointed to the Group.
SPAA Director, Technical and Professional Standards, Graeme Colley, says: “The association has always supported the concept of a Council believing it will help bring certainty and a bi-partisan approach to superannuation.
“It’s SPAA’s contention that superannuation should be sacrosanct, just like the family home, and we see the establishment of this Council as an important step in that direction.
“We look forward to actively engaging with the five industry figures appointed to the Charter Group and to playing a constructive role in developing the Charter and the Council of Superannuation Custodians.
“As the voice of the $475 billion SMSF sector, SPAA will actively work to ensure that the needs and views of our sector are conveyed to the Group, and that the SMSF sector has an integral role in any future Council,” he says.
