Federal House Economics Committe

Tim Wilson, chairman of the House economics committee, is requesting superannuation funds disclose the value of their real estate assets and proportion of members who are home owners as he steps up his campaign to let first-time buyers tap into retirement savings for a deposit.

Earlier this month, Mr Wilson began sending funds a dozen questions to answer as part of the standing committee’s review into banks, financial institutions and the superannuation sector.

In my opinion this is a continuation of long term strategy to undermine the superannuation system. These questions are intended, at least in part, to force employees of superannuation funds to waste valuable time and resources gathering information which is uneccessary as opposed to doing the necessary work to service fund members.

Please be aware.


Then they will wonder why people don't have enough in super when they retire!

This appears to be a member of parliament seeking information to place before the House economics committee with a recommendation. That recommendation will need to have the committee's support to move it forward to the Cabinet who, if it agrees, will place it before the party room. If the party room agrees then it will become a draft legislation to put before the lower house of the parliament, if it gets past that hurdle then it goes to the senate for final approval. the House economics committee. That's a lot of ifs and buts with no guarantee that the thought bubble by Wilson will even get the House economics committee to agree to start the long, involved process. Incidentally, I agree with Keating's original idea that the compulsory super fund is designed to make retirement easier for people and to do that the funds are to be maintained until retirement age is reached.


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