Former MLC chief executive Steve Tucker, former AustralianSuper chair Elana Rubin, Australian Prudential Regulation Authority deputy chair Ross Jones, former Cooper Review chair Jeremy Cooper and former Federal Court judge Alan H Goldberg will join the group which will work with, but separately from, a recently announced Council of Superannuation Custodians.
“The purpose of the Charter is to enshrine the core objectives, values and principles of our superannuation system for the long term,” Minister Shorten said in a statement.
The announcement of the group coincides with the release of a discussion paper, outlining a charter of the superannuation sector and providing a framework for consultation. It also outlines in more detail the role of the Council of Superannuation Custodians.
The Charter is being developed against the core principles of certainty, adequacy, fairness and sustainability, according to Mr Shorten.
“This is about ensuring working Australians feel confident that the investment they’re making now is going to provide for a comfortable retirement,” he said.
The Charter Group will also seek opinions on the establishment of a Council of Superannuation Custodians and act as “an impartial, expert superannuation body which protects the integrity of the scheme and ensures the policy settings are consistent with the core objects, values and principles,” Mr Shorten added.
