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E-commerce grant to super industry to assist choice of funds.

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E-Commerce Grant to Super Industry to Assist Choice of Funds

The Assistant Treasurer, Senator Rod Kemp, today welcomed Senator Alston's announcement of a $110 000 Federal Government grant to assist the Superannuation Industry Electronic Commerce Programme (SuperEC Programme).

"The SuperEC Programme will deliver substantial cost reductions and efficiency gains to the superannuation industry which will flow through to employers and employees" Senator Kemp said.

"In particular, developments in e-commerce will ensure there are no impediments to the implementation of choice of fund, particularly unlimited choice"

"The implementation of choice of fund will result in further cost savings for Australian workers by increasing the level of competition and efficiency in the superannuation sector."

Senator Kemp congratulated the superannuation industry on their involvement in the SuperEC initiative.

MELBOURNE 31 March, 2000

Media contact: Richard Allsop Assistant Treasurer’s Office (03) 9650 7274