SMSF Governance Review

This review was launched by Senator Sherry on 14 February 2008.  As this review seems to be purely an administrative review there have been no terms of reference issued and the personnel of the review have not been formally identified.  Equally, no time limit for completion of the review has been released (to our knowledge).

However, Senator Sherry has recently reconfirmed the existence of this review.  In a speech given on 16 September 2008, to a superannuation industry group, the Senator advised that the Governance Review will also extend to corporate, public sector, industry and retail segments of Superannuation – and not merely self managed superannuation funds.

The Senator informally referred to the review as “renovating the house”.

It seems that the review will take as long as house renovations do!