Labor support of super bill 'far from certain' : vimarsana.c

Labor support of super bill 'far from certain'


Labor support of super bill ‘far from certain’
Labor support of super bill ‘far from certain’
Labor’s financial services spokesman has indicated the opposition will move to block the Your Future, Your Super reforms if a number of amendments aren’t adhered to.
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Addressing the Conference of Major Superannuation Funds on Wednesday, shadow assistant treasurer Stephen Jones said the reforms – due to be debated when parliament resumes – were “deeply flawed” despite recent clarifications made by the government in the supporting regulations, and that he did not “expect an easy Passage for the bill”.
“Stapling provisions in the legislation could see 3 million workers defaulted into underperforming funds, and the directions power gives the Treasurer the extraordinary power to cancel any super investment,” Mr Jones said.

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