Government's priorities for superannuation: minister

The minister for superannuation and corporate law, senator Nick Sherry, has outlined the government's priorities in the area of superannuation.

Senator Sherry said the government was currently looking at using a Management Expense Ratio (MER) approach in relation to first home saver account product disclosure statements.

He said issuers will be required to disclose both the overall cost of an investment (in dollar terms) and the overall cost ratio, which is the average annual overall cost as a percentage of the average annual balance.