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Policy, Research & Advocacy

Overview

AIST helps shape the superannuation landscape through policy development, analysis and research. Member consultation is a vital part of the policy development process and ensures we represent the collective view of our members and the industry.

Take a look at our recent submissions, research projects and other trustee resources.

AIST CEO Fiona Reynolds speech at 2011 Tax Forum: 5 October, 2011

"On the tax concessions for superannuation, I think they are always controversial but I think it is really important to remember that superannuation, unlike other investments, is the only really one that you are asking people to lock up their money for 20, 30, 40 years and there has to be some concessions. That is not to say that there does not need to be equity there and I think the government has taken some steps with the caps to make sure that there is better equity.

But I think one of the areas that we haven't talked a lot about in the tax forum is women, and women are disadvantaged when it comes to retirement and savings. It is one of the areas where, unless there is some form of government intervention to assist women to save more, things are not going to change. Women are still retiring with half the retirement savings of their male counterparts. This is for a number of reasons. A, we earn less; B, we spend time out of the work force. But when it comes to retirement, the average seven year career break that a woman takes in her life costs her nearly $80,000 in missed superannuation. There are simple things that we can look at. I know they cost money but it is at the heart of equity. Like making sure superannuation is on paid parental leave.

There are other things in the tax system like not listing parental leave under ordinary time's earnings. Even if an employer pays it, they don't actually have to pay superannuation on it. Another concern is the $450 monthly income threshold which means that you don't get super unless you are earning $450 a month from any one employer. A lot of women might have a couple of small casual jobs so they are not getting any superannuation. So I think it is a area that needs to be looked at if we don't want to have women forever retiring with less, remembering also that women live longer than men."

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