Inquiry findings on Aussie super system stir debate

Pension industry experts have criticised proposals in Australia to introduce a new generation of lifecycle funds as mandatory default products and a more rigorous fund reporting and certification system. “Lifecycle products are not a proven solution,” Pauline Vamos, chief executive of the Association of Superannuation Funds of Australia’s (Asfa), told AsianInvestor. “They may suit some people, but many funds in Australia that have looked at lifecycle products say they are not fo…