The Financial Planning Association (FPA) has welcomed a government announcement for the Productivity Commission to conduct an inquiry into default superannuation funds in modern awards.
Dante DeGori, General Manager Policy and Government Relations at the FPA said:
“The FPA supports the Productivity Commission inquiry into the appointment of superannuation default funds into awards.
“We believe that any process to appoint a fund should be dealt with professionally via a transparent set of criteria.
“This latest announcement by the government encourages an even playing field for all superfunds, industry and retail alike. The FPA would support any move taken by the Government as a result of the findings to ensure greater competition and better outcomes for consumers.
“As a leading professional body in financial services, the FPA and our members continue to strive to provide qualified accessible financial advice that is in the best interest for all Australians.
“The FPA looks forward to the results of the review later on in the year and will assist where needed.”