Your home for profit-to-member Super
Join the leading voice in profit-to-member super
Our full list of member super funds
View the upcoming courses in your city
AIST's flagship educational program
Explore the history, rules and regulations of superannuation and how it fits into Australia’s economic landscape – and become RG146 compliant.
Listing of all upcoming events
The premier idea sharing and networking event for Australia’s $1.7 trillion profit-to-member super sector
AIST's annual Superannuation Investment conference
Research, insights and advocacy on the most pressing topics in super
Our response to changes in the political and policy environment
From AIST's governance code to practical guidance and toolkits
Industry news, latest resources and event updates
Stay connected to the latest policy news
Photo, audio and video content
Our mission, vision and values
Meet our team
Our board of directors, constitution and committees
News, insights and resources as they unfold.
Stay up-to-date with the issues affecting super.
The Government’s proposed Retirement Income Covenant should include provisions to expand intra-fund advice for super fund members, the Australian Institute of Superannuation Trustees (AIST) said today.
Releasing its latest submission on the Retirement Income Covenant, AIST CEO Eva Scheerlinck said expanding intra-fund advice so that super funds could provide advice on issues such as a couple’s retirement adequacy and age-pension eligibility would lead to better retirement outcomes.
“Decisions about retirement income options can be among the most important super fund members will ever make,” Ms Scheerlinck said. “Expanding intra fund advice alongside the proposal for funds to develop a retirement income strategy would help ensure that members are provided with the most appropriate approach to their retirement income needs.”
Currently, there are strict limitations on the scope of the intra-fund advice provided by super funds. Super funds are not permitted to provide intra-fund advice on a household’s retirement adequacy, home ownership and other non-superannuation assets.
“We need to recognise that as many as half of all members seek pre-retirement advice as a couple or household rather than as individuals” Ms Scheerlinck said. “Allowing super funds to provide intra-fund advice on factors such as household assets and home-ownership is a natural fit with the retirement income covenant proposal.”
“Over many years intra-fund advice has provided limited advice very widely and successfully and expanding it to a broader range of retirement questions has the potential to benefit millions of Australians,” Ms Scheerlinck added.
AIST’s submission also recommends:
Enquiries: Janet de Silva, AIST Senior Media Manager [email protected] 0448 000 499
AIST is the peak body for the $1.5 trillion profit-to-member superannuation sector which includes industry, corporate and public-sector funds.