NFAW is concerned about the financial security of women, and the role of superannuation in achieving that security. To that end we have made a number of submissions to previous Parliamentary and Treasury enquiries into the superannuation system and to the Senate Inquiry into the Financial Security of Women in Retirement.
1. We are not convinced that requiring independent directors on the Boards of superannuation
funds will improve accountability and returns to members.
2. It would be a more effective accountability measure to require mandatory educational and
conflict of interest measures to improve the skills of directors of RSEs.
3. The independent director requirements could reduce the pool of directors eligible to serve
on RSE Boards.
4. Measures that require superannuation funds to communicate more effectively with
members should be supported
5. Increasing the level of regulation of MySuper funds should take account of the likelihood
that additional costs will be passed on through increased fees.