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Galexia and CHOICE prepare submission to superannuation review - 18 December 2009

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On behalf of CHOICE, Galexia prepared a submission to Phase 2 of the Super System Review (the Cooper Review). Phase 2 of the review deals with the operation and efficiency of Australia’s superannuation system.

The submission focuses on a small number of key areas where reform is most needed:

• Increasing the amount and quality of comparative data available to consumers;
• Removing the bias that results from sales commissions to advisers when recommending a superannuation fund to consumers;
• Introducing measures to decrease excessive fees and charges, including a new ‘fee target’ of 1%; and
• Introducing measures to reduce the number and impact of inactive and lost accounts.

Related links:

• Read more about Galexia’s work with CHOICE on consumer issues »

External links:

• Super System Review website (external site) »
• CHOICE's submission at the Super System Review website (external site) »

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