An Liberal Senator’s new policy paper has “Big Super” in its sights and raises questions about the purpose of Australia’s retirement system. The super industry’s peak advocacy body was swift in its reproval.
If you were paying attention to the multiple parliamentary discussions concerning the ASIC levy over the past year, it would be understandable if you got the impression that a major reduction in costs for advisers was on the horizon once the regulator reached the end of its “Royal Commission pipeline”. But based on a recent ASIC response, that might not be the case – and it raises even more questions about what advisers are actually paying for.
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