There are now trillions of dollars tied up in Australia’s superannuation system, so it should come as no surprise that successive governments take an interest. The Your Future, Your Super reforms introduced on 1 July 2021 are the most recent example of this and are unlikely to be the last.
Those changes were designed to hold the system, and the super funds that manage that money, to account. On balance, this is a good thing, as long as the outcomes achieved are the best for members and their retirement savings.
In fact, superannuation in Australia has undergone constant change during its 150-year history, even though it’s only really in the last three decades that it’s become accessible to all working Australians.
Penny has nearly two decades experience of writing, reporting and editing financial services publications for both institutional and retail readers. She has contributed to, and edited, the Money Section of the Sun Herald and The Sunday Age.
She has written for the Australian Financial Review and the Sydney Morning Herald, the Cooperative Research Centres Association publication KnowHow Magazine, JMoney, In The Black and Global Investor.
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