CEO of Insignia Financial, one of Australia’s largest wealth companies, Scott Hartley said:

“Legislating the Objective of Super solidifies the focus of our system as it moves from accumulation to the provision of retirement income.

“If we are serious about getting members engaged with their retirement savings sooner, we should rename our system from superannuation to retirement income.

“The Government should also prioritise legislating affordable and accessible advice to help more Australians as they approach retirement and improve the advice process by creating efficiencies for comprehensive advisers to help more Australians.”

Read the full media release.