Superannuation Legislation

Government consults on market-linked & death benefit amendments

The Government has started consultation on technical amendments to market-linked pensions and rollover death benefits. Treasury has released for consultation draft legislation and regulations to “correct unintended outcomes” from the Government’s Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016. The draft legislation includes a change to “correct an error… Read More »Government consults on market-linked & death benefit amendments

Diminished ‘Protecting Your Super’ Bill passes Parliament

The diminished ‘Protecting Your Super’ Bill has passed the Parliament. Last week the Government, in a deal with the Greens, stripped out the insurance changes from its Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018. The Bill, with other amendments, passed the Senate, and now the House has passed… Read More »Diminished ‘Protecting Your Super’ Bill passes Parliament

Government drops opt-in insurance from Protecting Your Super package

The Government has dropped the core part of its ‘Protecting Your Super’ package – changing insurance in superannuation for young people – to get the Bill through the Senate with the support of the Greens, despite Labor saying it supports the Bill. The Government’s Treasury Laws Amendment (Protecting Your Superannuation… Read More »Government drops opt-in insurance from Protecting Your Super package

Government seeks to implement two Royal Commission recommendations

The Government wishes to implement two recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry by amending some of its superannuation legislation in the Senate. The changes are being made to a Bill, the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures… Read More »Government seeks to implement two Royal Commission recommendations

Government only schedules one of six superannuation Bills for debate

The Government has only listed one of its superannuation Bills for debate in the Senate, with only 5 Senate sitting days until an expected May election. Despite Ministers repeatedly calling on the Labor party to support the Government’s superannuation legislation, only one superannuation Bill is listed on the Draft Legislation… Read More »Government only schedules one of six superannuation Bills for debate

Industry Super calls for Protecting Your Super Bill to pass

Industry Super Australia has called on the Parliament to “finally” pass measures aimed at protecting worker’s superannuation. The Parliament may this week debate the Government’s ‘Protecting Your Super’ Bill. The Bill contains measures announced in the 2018/19 Budget, including capping fees for low-balance accounts, consolidating more superannuation with the ATO… Read More »Industry Super calls for Protecting Your Super Bill to pass