Cooper, Rubin named on new independent super body

AAP, with a staff reporter 

Superannuation Minister Bill Shorten has unveiled the five members of a new independent superannuation body, a key plank of its changes to the system announced last month. 

Jeremy Cooper, author of the Cooper Review into superannuation, and former Australian Super chair Elana Rubin will sit on the committee.

The group also includes former federal court judge Alan Goldberg, deputy chairman of the Australian Prudential Regulation Authority  Ross Jones and former MLC chief executive Steve Tucker.

Mr Shorten says the group of five will draw up a charter of "adequacy and sustainability" for Australia's $1.5 trillion superannuation sector.

The charter will ensure investors have a consistent regime to plan for their retirement over 20, 30 or 40 years.

"The time has come to remove superannuation from the realm of contested politics and look generations ahead," Mr Shorten  said. 

Shadow Financial Services and Superannuation Minister Mathias Cormann said Mr Shorten's big announcement was a waste of effort.

"Bill Shorten has today announced yet another committee, to advise him on setting up another committee after that, to stop future governments from doing the bad things Labor has done to superannuation taxation over the past five years," he said.

"We already have a Council of Custodians, they are the Australian people, who will pass judgement on this government at the next election."