SPAA looks forward to working with Coalition to improve retirement security

10 September 2013: The SMSF Professionals’ Association of Australian (SPAA) is looking forward to working closely with the Coalition Government and is heartened by its pre-election promise of “no unexpected detrimental changes to superannuation”.

SPAA CEO Andrea Slattery says: “The SMSF sector and the Coalition’s view of the world have much in common. We believe this augers well for the future strength and stability of the superannuation sector. SMSF’s alone accounts for $500 billion in assets and include around one million participants.”

“SMSFs are all about choice, self-sufficiency and individual responsibility for one’s retirement. As an industry we are concerned with making the sector more efficient with less red tape.”

“We welcome statements by Prime Minister elect Tony Abbott that ‘Australia is open for business’. We believe the SMSF sector will warmly welcome these comments and that they send a strong signal of intent when it comes to expressing the priorities of the new Government”.

“We are confident that the Coalition is acutely aware of the dangers of continuing changes to the superannuation rules. They act as a disincentive for people to save for retirement, and, as a consequence, we welcomed the promises made by both parties to stop changing superannuation rules detrimentally as a step in the right direction to achieving bipartisan support for a sustainable and stable superannuation system.

“We strongly believe that as far as possible, superannuation should be above short-term budgetary political pressures as it is a lifetime commitment that has the goal of reducing the long-term costs to government and allowing people to retire with dignity.”

“SPAA welcomed the Coalition’s commitment to not introduce any negative changes to the system, and we will continue to advocate strongly those measures we believe will have a positive effect,” said Ms Slattery.

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