Stronger Super Peak Consultative Group
Paul Costello will chair the ‘Stronger Super Peak Consultative Group’, which has been tasked with advising the Government on how to best implement the Stronger Super package, announced by the Government in response to the Cooper Review of superannuation.
The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, said “Paul was the General Manager of the Future Fund until the end of last year. He has considerable superannuation experience in both Australia and New Zealand and I thank him for accepting this important role”.
The Group will begin detailed consultation on the implementation of the Government’s Stronger Super reform package later this month.
The broad framework for the consultation process was outlined by the Minister in his announcement of the Stronger Super reforms in December last year. This framework comprises a Peak Consultative Group supported by specialist working groups.
The Group comprises representatives of key stakeholders in the superannuation sector, including employers, employees, industry service providers and consumer advocates. It also includes international pension fund expert, Roger Urwin.
The Group will be a source of advice on the implementation of the Stronger Super package, and will ensure a consistent, integrated approach in respect of the various elements of the reforms.
The first meeting of the Peak Consultative Group is expected to be held in February, with the Group then meeting on a regular basis over the course of the next few months.
The Group will also be supported by several working groups (covering MySuper, Governance, self-managed superannuation funds, and SuperStream). The working groups will allow for more detailed discussions with relevant private and public sector experts on the practical and technical design and implementation issues.
While membership of the various consultative groups will, by necessity, be limited, other interested stakeholders will be able to provide input into the design and implementation of the reforms through the Stronger Super website at http://strongersuper.treasury.gov.au
