Only one month ago, the Productivity Commission (PC) delivered its scathing final report on the efficiency and competitiveness of Australia’s $2.8 billion superannuation system, which noted a multitude of failures ranging from a proliferation of poorly performing funds, excessive fees, unnecessary and costly insurance products, and multiple accounts.
Most importantly, the PC final report also recommended a sweeping public review of compulsory super “in advance of any increase in the Superannuation Guarantee rate”:
