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STATISTICS
The Australian Taxation Office
(ATO) has released figures
indicating that over 70% of
members’ contributions to APRA-
regulated funds have been
submitted through SuperStream
since September 2015.
Additionally, an overall 70%
efficiency benefit has been
observed in the time taken for
the majority of employers that
have implemented SuperStream
to meet their super obligations.
Source: Super Review
TAX REFORM
The Federal Treasurer, Scott
Morrison, speaking at the
Australian Financial Review
Business Summit in Melbourne,
has confirmed that tax
incentives are being examined
by the government as part of
the May budget.
Mr Morrison stated that
superannuation is “not an estate
planning tool.”
“Where you have to target and
make every incentive work for
you is on those Australians who
are most likely to be at risk of
being dependent on a welfare
payment into their retirement”
said Mr Morrison.
Source: Investor Daily
RESEARCH
The Centre for International
Finance and Regulation (CIFR)
has released a study finding that
there is little empirical evidence
that independence of board
members would improve
investment performance, but
that independence is important
in maintaining the legitimacy of
the superannuation system.
The study concludes that the
government should rethink the
justifications for the pending
reform.
Source: CIFR
TECHNOLOGY
VicSuper have announced a
partnership with Bravura
Solutions following the successful
completion of an 18-month
technology overhaul to the
Fund’s core administration
system, migrating to the Sonata
platform.
“VicSuper is now using the most
contemporary, best-practice
system in the industry. We see
this as an important step in our
digital evolution. We intend to
keep innovating and to
continuously enhance the
products and services we offer
our members” said Michael
Dundon, Chief Executive Officer,
VicSuper.
Source: VicSuper
INDUSTRY
Mercer will respond to the
government discussion on the
objectives of superannuation,
expanding the discussion to
include the Age Pension and
super tax concessions.
“To do this properly we have to
define the objectives of both
superannuation and the Age
Pension simultaneously” said
Mercer Senior Partner Dr David
Knox.
Source: Mecer
APPOINTMENTS
Emergency services industry fund
ESSSuper has appointed Tim
Richardson as Chief
Transformation Officer.
Richardson will be responsible for
the program management
division and oversee the
technology-based restructure of
the $24 billion superannuation
fund.
Source: Financial Standard
DEPARTURES
The Australian Institute of
Superannuation Trustees’ (AIST)
president Angela Emslie has
resigned after 14 years of serving
on the board. A new president is
to be elected in the AIST Board
meeting in April.
Source: Super Review
QMVsuperbrief 
Issue #10 of 2016 | Friday 18th
March
QMV