Question

13. Superannuation funds are regulated by​ the:

Select one

A. Reserve Bank.

B. Australian Competition and Consumer Commission

C. Australian Securities and Investments Commission

D. Australian Prudential Regulation Authority

14. The introduction of compulsory superannuation in Australia is to blame for​ Australia's poor saving performance.

Select one

A. True

B. False

Answer 1

Answer 13 - D) Australian Prudential Regulation Authority.

The Australian Prudential Regulation Authority (APRA) supervises and regulates the Superannuation funds.

Answer 14 - B. False

Reason - The introduction of compulsory superannuation in Australia is not to blame for​ Australia's poor saving performance. The Superannuation is made compulsory so that every working Australian saved for their retirement and can live a financially secure life in retirement. It aims at making contributions to Superannuation funds over the course of your working life and eventually having significant savings in a future time which also helps in increasing the amount of national savings which is important from economy's standpoint.