Fed: Govt not abolishing super complaints body, says Coonan
CANBERRA, April 17 AAP - The federal government would not (not) abolish the SuperannuationComplaints Tribunal as recommended by the Productivity Commission (PC) in its review ofsuper laws, Assistant Treasurer Helen Coonan said today.
The PC examined the Superannuation Industry (Supervision) Act 1993 and certain othersuper legislation.
Senator Coonan welcomed the report but said the government had not agreed with thePC's recommendation that the tribunal be abolished.
"The government supports the retention of the Superannuation Complaints Tribunal," she said.
"The tribunal has widespread industry support in its role as a statutory body."
Senator Coonan said a number of the PC's recommendations were actually government electionpromises.
These included allowing temporary residents to access super benefits upon permanentdeparture from Australia, as well as the proposed simplification of the maximum age forcontributions to super which the government is committed to raising to 75 for personalcontributions.
Senator Coonan said the government did not want to pre-empt the outcomes of other currentexaminations of super including the activities of the Superannuation Working Group, sosome PC recommendations have merely been noted pending the SWG finishing its work.
The SWG is headed by businessman Don Mercer and comprises representatives of the AustralianPrudential Regulation Authority, Australian Securities and Investments Commission andTreasury.
AAP fh/sw/mg
KEYWORD: SUPERANNUATION
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