ASFA is calling for certainty and stability in superannuation policy as its key ask for an incoming government.
The peak body for superannuation is also advocating for specific, targeted reforms that will help ensure future generations of Australians enjoy dignity in retirement while reinforcing Australia’s economic resilience.
“Our superannuation system is working well for the 17 million Australians with superannuation accounts by delivering strong retirement outcomes: it builds our prosperity, and delivers greater financial security for retirees, stable capital for investment, and economic resilience for the country,” said ASFA CEO, Mary Delahunty.
“This Federal Election, ASFA is calling for targeted and coordinated reforms that protect and build upon the strengths of Australia’s superannuation system. These reforms include maintaining the elements that make our system work: preservation settings, improving equity outcomes, and ensuring the system remains a pillar of national economic stability.”
“If adopted, ASFA’s recommendations will enable superannuation to continue delivering strong retirement outcomes, allowing individuals to retire with dignity, while also playing a critical role in funding infrastructure, housing, and business investment,” Ms. Delahunty said.
ASFA’s Key Priorities for the Incoming Government Include:
- Strengthening fairness in retirement, including by expanding the Low Income Superannuation Tax Offset to improve retirement outcomes for working Australians.
- Implementing Payday Super without delay so that all Australians receive their superannuation entitlements on time.
- Protecting superannuation for Australians’ retirement by working with the superannuation sector to tackle financial crime, scams, fraud, and other actions, ensuring that superannuation is preserved for its intended purpose of retirement.
- Improving retirement outcomes through quality advice, with the goal of making affordable and quality advice accessible to more Australians to plan for a strong retirement.
- Reinforcing consumer choice in the superannuation system by enhancing investment choices and encouraging informed decision-making in a transparent way.
- Harnessing the strength of superannuation to support investment in national priorities such as housing supply, clean energy, and infrastructure.
- Upholding a stable and efficient superannuation system that works for millions of Australians through a predictable and balanced policy framework.
About ASFA
ASFA, the voice of super, has been operating since 1962 and is the peak policy, research and advocacy body for Australia’s superannuation industry.
Download ASFA’s Policy Priorities document here.
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