objective of super

The bill would require any future legislation affecting superannuation to comport with the objective of preserving savings “to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way”.

Speaking at the SMSF Association’s National Conference, the assistant treasurer called out “modern-day Edmund Hillarys” seeking to raid Australia’s “Mount Everest of superannuation” as he pressed the need for an objective for super that prioritises preservation.

Stakeholders are asked for feedback on the government’s proposal to define super’s objective in legislation for the first time, with industry bodies lining up in support.