COSBOA welcomes the discussion paper on “The Objectives of Superannuation” released today by Assistant Treasurer Kelly O’Dwyer .
Peter Strong, troche drugstore CEO of COSBOA, seek said today “COSBOA knows the value of superannuation to Australia’s future and for a healthy retirement for our workforce; including a group that does not often get the necessary focus, the self-employed.”
COSBOA knows from deep experience that the superannuation system needs better defining and the development of a clearer focus. The comments and needs from vested interests has seemed at times to become more important than an efficient, transparent system.
Peter Strong added “for too long, opinion has been overly influenced by the likes of industry superannuation funds, some retail funds who should know better, big business associations not connected to the collection process and others who are supporting old ideology or vested interests. We do need to define whether superannuation is a wealth-creating mechanism or a way to make retirement and the last years of a person’s life healthy, more certain and less stressful.”
Peter Strong also added “we look forward to attending the round table and ensuring that our sector, over 2.2M people and their families, are not ignored or indeed forgotten.”