1 August 2008 00:00
He says VFMC is reviewing its own requirements for staff, but there are some questions around how far you spread the net of who is captured by the disclosure requirements and investment restrictions.
“For example, to what extent do the Chinese walls extend to the staff member’s family?” he asks. “We’re still working on it.”
Payday super changes have been touted as addressing the issue of unpaid super and as putting members’ contributions to work sooner, earning them more in the long run. But the member benefits will only become real if every link in the chain between the employer and the member’s account works as it must, and there’s still a few yet to be joined up.
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