Submission on Superannuation (Objective) Bill 2016
The submission to the Senate Standing Committees on Economics in relation to the Superannuation (Objective) Bill 2016 (The Bill) was prepared by the Australian Superannuation Committee of the Legal Practice Section.
The Bill contains the 'primary objective of the superannuation system' being to provide income in retirement to substitute or supplement the age pension. In addition the Bill provides for subsidiary objectives to be made by regulation. When enacted, the Act will require any bill or draft regulation relating to superannuation to include a statement of compatibility with the primary objective and the subsidiary objectives.
You can read the full submission below.