Media Release

The Financial Services Council (FSC) notes the Government’s introduction of tranche one of its Delivering Better Financial Outcomes reform package on financial advice into Parliament today.

The Financial Services Council (FSC) welcomes the Government’s commitment to pay the Super Guarantee on Government paid parental leave from 1 July 2025.

The majority of Australians believe superannuation should be about preserving savings to deliver income for a dignified retirement, according to a national poll of more than 2500 people.

Australians want control over how they spend and enjoy their retirement and do not trust the Government to direct how their superannuation savings should be consumed, a new nation-wide poll has revealed. 

New research released today by the Financial Services Council (FSC) has revealed that in less than a decade, almost a fifth of Australian households would be eligible to buy wholesale products without retail consumer protections, leaving them potentially vulnerable due to not properly understanding the associated financial risks.

The Financial Services Council (FSC) welcomes the Government’s comprehensive framework to deliver on its commitment to make financial advice more accessible and affordable for millions of Australians.

The Financial Services Council (FSC) has released the results of its 2023 Diversity Survey, highlighting the commitment of its global and domestic fund manager members to improve gender diversity within the investment management sector.

The Financial Services Council (FSC) notes the Government’s decision to consult on whether to reform the Your Future, Your Super performance test to avoid discouraging superannuation fund investment decisions away from investments that would strengthen the national economy.

The Financial Services Council (FSC) welcomes the Government progressing the climate-related financial disclosures regime with the Treasurer’s introduction into Parliament of the Treasury Laws Amendment (Financial Market Infrastructure and other measures) Bill.

The Joint Associations Working Group (JAWG) is calling on the Government to move swiftly to fix legislation introduced into the Parliament so that it doesn’t make advice more unaffordable and less accessible for consumers.

New research released today by the Financial Services Council (FSC) shows that removing barriers for superannuation funds and fund managers to transition consumers to modern investment products would result in consumers retiring with cumulatively $16 billion more by 2050, lifting their collective retirement income by $22 billion during their retirement.

The Financial Services Council (FSC) is today pleased to launch the State of the Funds Management Industry Report prepared by KPMG, which lifts the lid on the regulatory and tax policy settings that are limiting Australia’s funds management industry becoming a major global financial services centre.