The message from Senator Jane Hume is clear: micro-reforms will be ever-constant. Funds need to be set-up to integrate micro-reform and maintain the ability to innovate. Funds which can’t keep pace will have to merge, which also fits with policy objectives - David Bell writes.
Changing the default system was subject of the Productivity Commission review and has remained on the government’s plan in parallel with the ‘best in show’ and APRA’s heat map concepts designed to put a spotlight on underperforming funds.
The economic crisis caused by the pandemic and the recovery journey ahead provides an opportunity to build greater preparedness for systemic risks like climate change, argues Travers McLeod, chief executive of the Centre for Policy Development.