The Financial Services Working
Group, a joint initiative of Treasury, the Department of Finance and
Deregulation and the Australian Securities and Investments Commission, which was appointed to look at key issues associated with
financial product disclosure and advice, has released a consultation paper on increasing access to simple superannuation advice.

The paper seeks comment on regulatory and other steps that could be
taken to improve members’ access to low-cost financial advice
within their superannuation fund. The advice would seek to answer
member queries on issues including investment choice, insurance,
contribution types, nominating beneficiaries and retirement income
projections.

The closing date for public submissions is 15 July 2008.