Coalition’s financial services policies will deliver certainty and stability to the financial services industry

From

Greg Cooper

The Coalition’s financial services policies will deliver certainty and stability to Australian retirees that their superannuation will not be tinkered with, Greg Cooper, chairman of the Financial Services council and CEO of Schroders Australia said today.

Speaking at the FSC’s Annual Conference, Mr Cooper said: “As the second biggest financial asset for most Australians after the family home, stability in superannuation policy settings is essential.”

“We welcome the Coalition’s ‘no adverse changes’ commitment. This announcement, along with the Treasurer’s yesterday, will remove super from the annual Budget night uncertainty.”

“Lifting super from the annual uncertainty cycle is an outcome the wider superannuation industry supports,” Mr Cooper said.

He also thanked Senator Mathias Cormann, Shadow Minister for Financial Services and Superannuation, for his significant contribution to Australia’s financial services industry since his appointment in 2010.

“As a result of Senator Cormann’s leadership and heavy lifting, the Coalition has a set of well-developed policies in financial services,” Mr Cooper said.

“The FSC has been very supportive of the Coalition’s stated policy commitments including the continued development of Australia as a financial centre, substantial refinements of the Future of Financial Advice and Stronger Super reforms, introducing true competition in default superannuation; and commitment to no adverse changes to superannuation in the next Parliament.”

“But it’s not the industry that will ultimately be most grateful, it will be the retirees of the future that will derive the full benefit from this new consensus on super policy,” he said.

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