Superfunds --- Page: 10-11 : April 2008 Original article by Ian Davis
LexisNexis Summary
The Australian Government wants to hear relevant advice on superannuation issues. It set up a super advisory group to provide ongoing advice on all issues connected to retirement income. Pauline Vamos, of the Association of Super Funds of Australia (ASFA), is a member of the 10-person advisory group. Meanwhile, legislation has been introduced into the Australian Parliament to make super lump sum payments tax-free when they are paid to people dying from a terminal illness. Meanwhile, the super gap between men and women is narrowing. The average super balance for men in 2006 was $A69,050, while the average balance for women was $A35,520, a narrower gap than in the past. In 2006, only 3% of new retirees had a super balance of over $A500,000.
