Welcome to the website for the Government's Stronger Super reforms.
The Government's reforms will make our superannuation system stronger and more efficient, and will help to maximise retirement income for members.
Specifically, the Government will:
- create a new simple, low cost default superannuation product called 'MySuper';
- make the processing of everyday transactions easier, cheaper and faster, through the 'SuperStream' package of measures; and
- strengthen the governance, integrity and regulatory settings of the superannuation system, including in relation to self managed superannuation funds.
On 21 September 2011, theMinister for Financial Services and Superannuation,announced the Government's decisions on the key design aspects of the Stronger Super reforms. Further information about this announcement can be found in the Stronger Super Information Pack.
Legislation to implement the Stronger Super reforms is being introduced in several tranches over the coming months.
- On 3 November 2011, the Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011 was introduced. The Explanatory Memorandum explains how these reforms will apply to superannuation members, industry and employers.
- On 16 February 2012, the Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012 was introduced. The Explanatory Memorandum for this Bill is also available.
