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Asia Pacific regulators look to Monash for superannuation solutions

16 April 2008

From left: Corazon de la Paz-Bernardo from the International Social Security Association, Minister for Superannuation and Corporate Law Senator Nick Sherry, Hugh Moor from the Victorian Government, Ken Waller from the Melbourne APEC Finance Centre and Professor Michael Skully from the Faculty of Business and Economics.

Representatives from superannuation funds and regulators in the Asia-Pacific region have sought guidance from the Melbourne APEC Finance Centre at Monash University.

The representatives visited the centre to learn about alternative superannuation structures and schemes that would help with the development and expansion of their existing systems.

APEC Finance Centre Director Ken Waller said superannuation in the Asia-Pacific region was a rapidly growing sector and the organisations there needed guidance on how best to improve super schemes.

"Research shows that pensions and funds under management are expected to grow on average by 15 percent over the next ten years with China, Korea, Chinese Taipei and Thailand well exceeding this," Mr Waller said.

"With growth so strong in the region, pressure is being placed on many governments to reform their pension arrangements and put systems in place that will meet the needs of their ageing workforces."

Monash University is able to share its experience and technical capacity with emerging economies as they grow and demand new regulatory frameworks to strengthen their superannuation and pension systems.

"Monash University's APEC Finance Centre has experienced people to assist with developing superannuation programs overseas and it also has the benefit of being able to draw on first-hand knowledge gained through the success of the Australian scheme," Mr Waller said.

"Superannuation funds in Australia have ballooned to over one trillion dollars under management."

Minister for Superannuation and Corporate Law Senator Nick Sherry also spoke at the function on a range of superannuation issues.

For more information visit the Melbourne APEC Finance Centre website.