Government narrows focus to three superannuation Bills

Nest egg, superannuaiton, SMSF, retirement
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The Government has narrowed its focus to three superannuation Bills for this sitting week – the second last for 2018.

In the Senate-only sitting week earlier in November the Government put six superannuation Bills on the Programme for the Senate. However none reached a vote.

The Government has seemingly narrowed its focus to only three superannuation Bills for this sitting week, based on the current Draft Legislative Programme for the Senate:



Earlier in November Assistant Treasurer Stuart Robert announced that the Government intends to amend three of its superannuation Bills. If passed, the Protecting Your Superannuation Bill would be amended to retain opt-out insurance for young people in dangerous occupations, the Measures No. 1 Bill would be amended to add penalties for non-payment of Super Guarantee, and changes would be made to the new rules in the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2017. However this third Bill is not included on the Programme for this week.

Also, none of the amendments have been published on the Parliamentary website, though at least some have reportedly been circulated to the cross bench.

The other Government superannuation Bills will likely remain stalled – none of them have been debated since June 2018, some much earlier. Measures in these stalled Bills include requiring at least one-third independent directors for large super funds, expanding super choice, closing the Salary Sacrifice ‘loophole’ and setting objectives for the superannuation system in legislation.

The Programme notes that it is “indicative” and subject to change – as was seen in the previous Senate sitting week.

Following this week only one sitting week remains in 2018. The 2019 sitting calendar has yet to be published.

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