The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Bill Shorten

Bill Shorten

Minister for Financial Services & Superannuation

14 September 2010 - 1 July 2013

Media Release of 01/02/2011

NO.021

Paul Costello to Chair Consultation Panel on Stronger Super Reforms

Paul Costello will chair the 'Stronger Super Peak Consultative Group', which has been tasked with advising the government on how to best implement the Stronger Super package, announced by the Government in response to the Cooper Review of superannuation.

The Assistant Treasurer and Minister for Financial Services and Superannuation, the Hon Bill Shorten said "Paul was the General Manager of the Future Fund until the end of last year. He has considerable superannuation experience in both Australia and New Zealand and I thank him for accepting this important role."

The Group will begin detailed consultation on the implementation of the Government's Stronger Super reform package later this month.

The broad framework for the consultation process was outlined by the Minister in his announcement of the Stronger Super reforms in December last year. This framework comprises a Peak Consultative Group supported by specialist working groups.

The Group comprises representatives of key stakeholders in the superannuation sector, including employers, employees, industry service providers and consumer advocates. It also includes international pension fund expert Roger Urwin.

The Group will be a source of advice on the implementation of the Stronger Super package, and will ensure a consistent, integrated approach in respect of the various elements of the reforms. The first meeting of the Peak Consultative Group is expected to be held in February, with the Group then meeting on a regular basis over the course of the next few months.

The Group will also be supported by several working groups (covering MySuper, Governance, self-managed superannuation funds, and SuperStream). The working groups will allow for more detailed discussions with relevant private and public sector experts on the practical and technical design and implementation issues.

While membership of the various consultative groups will, by necessity, be limited, other interested stakeholders will be able to provide input into the design and implementation of the reforms through the Stronger Super website at strongersuper.treasury.gov.au.

The membership of the Stronger Super Peak Consultative Group is detailed in the Attachment.

1 February 2011


Attachment

Stronger Super Peak Consultative Group

Mr Paul Costello

Chair

Mr John Berrill Principal, Maurice Blackburn
Mr John Brogden Financial Services Council
Mr Dick Grozier Australian Chamber of Commerce and Industry
Ms Peggy Haines Consultant, Freehills
Mr Richard Lloyd CHOICE
Mr Tim Lyons Australian Council of Trade Unions
Mr Michael O'Neill National Seniors Association
Ms Fiona Reynolds Australian Institute of Superannuation Trustees
Ms Andrea Slattery SMSF Professionals' Association of Australia
Mr Peter Strong Council of Small Business of Australia
Mr Roger Urwin Towers Watson (UK)
Ms Pauline Vamos Association of Superannuation Funds of Australia
Mr David Whiteley Industry Super Network
Mr Brian Wilson Pro Chancellor of University of Technology, Sydney

* The Peak Consultative Group will include representatives from the Treasury, supported by other relevant government agencies. Mr Wilson and Ms Haines were part of the Super System Review.