AMP Welcomes Super Reforms

The Government has got the balance right - strengthening protections for Australians while maintaining choice in how they manage their retirement savings.

We strongly support measures that lift accountability, strengthen oversight, stamp out harmful practices such as conflicted lead generation and provide faster pathways to remediation. These reforms should help protect Australians' savings and reinforce confidence in the retirement system.

It's important this work sits alongside the broader Delivering Better Financial Outcomes reforms. Better protection and better access to quality financial advice should go hand in hand.

The simplification of Best Interest Duty and education requirements supports the urgent need for increased supply of professional advice.

As the detail is worked through, we need clear and practical settings for the different forms of advice, recognising the expertise of professional financial advisers.

We look forward to working constructively with the Government and regulators as the detail is progressed.

Attributable to Blair Vernon, AMP CEO