The Institute, together with other related and unrelated parties, is part of a defined benefit pension plan (Public Service Super annuation
Act pension plan) that satisfies the definition of a multi-employer plan.
The banks are seen aiming at the twin targets of deeper and broader domestic currency fixed income market and higher opportunities for long-term investments for pension and other super annuation
The banking, super annuation
and insurance sectors come under the remit of the APRA, and the acts relating to these sectors frequently crossover, according to the report.
The government miscalculated how much needs to spent on costs such as National Insurance and super annuation
Whether this could be done without making annuation
compulsory is, however, problematic give n the asymmetric information problems that bedevil a voluntary annuity market.
Exemption to the incomes of provident, gratuity and super annuation
funds, regimental service funds and old age benefit institutions is being exempted for the benefit of the retired.