The Financial System Inquiry – Where next for superannuation funds?

The final report of the Financial System Inquiry (FSI) was released on Sunday 7 December.

The report is critical of the superannuation industry and makes some telling recommendations for change. The government appears to be pleased with the contents of the FSI final report, but not all suggestions will receive bipartisan political support.

We discuss the likely impact on the superannuation industry and then set out the framework for superannuation funds to address the Inquiry’s findings.

Smart superannuation funds and providers will not wait until the recommendations are legislated but will start preparing for change now.