Mon, 11th Nov 2024

In this week's superannuation news, Senator Andrew Bragg advocates for a reform that merges retirement savings and housing solutions, suggesting a shakeup in financial security strategies. Cybersecurity of superannuation funds garners attention, with the ASFA asserting legislative safeguards against potential regulatory implications once cyber incidents are reported to the NCSC. This aims to foster a cooperative environment for effective incident reporting, protecting national security and super fund interests. Simultaneously, the ASFA seeks a comprehensive review of the current tax system, asserting stricter controls on tax concessions favoring high earners. Lastly, seasoned superannuation sector professional, Bernie Dean, begins his new role as the Chief Strategy Officer for Cbus, denoting a strategic shift in the organization's board dynamics.