Administration fees are one of the biggest drains on retirement savings and including them in the test will drive fast improvements to the super savings of over a million super members, according to Super Consumers.
Treasury points to 21 MySuper under-performers moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.
Some 21 MySuper products currently on offer in the market and holding over $100 billion in funds are under-performers and their members simply don’t realise it, according to the Federal Treasury.
Thus, Outsider was amused to see Bragg working alongside former Transport Workers Union national secretary and now NSW Labor Senator, Tony Sheldon during the recent hearings of the Senate Economics Legislation Committee and the questioning of the FSC’s deputy chief executive, Blake Briggs.
With Bragg sitting in as acting chair of the committee, Sheldon did not miss his opportunity to nail his colours to the mast in the following exchange:
Senator Sheldon: I’ll make it a good one. This is for Senator Bragg, but my introduction will be that I was a member of TWUSuper. I’m still in TWUSuper, of which Senator Bragg is well aware.
An
electric-car lobby group – including automotive giants Volkswagen and Hyundai – has launched a fresh attack on the Victorian Government’s plan to introduce a
special tax on electric vehicles.
The Electric Vehicle Council and two dozen other interested parties – such as Uber, Jet Charge and Doctors for the Environment Australia – have published a full page advertisement in
The Age newspaper today calling on the Victorian parliament to vote against the proposed electric vehicle tax, which is due to come into force from
1 July 2021.
forecast
shortfall in tax revenue because electric cars avoid paying fuel excise – a large portion of which goes towards funding roads.