KEEPING THE PRESSURE ON

To provide context for the current political landscape around progress to changes in the super system, the Government continues to juggle a busy agenda against the context of high inflation, high interest rates and cost of living pressures. These factors impact on the Government’s policy priorities both within and outside of superannuation.

Some of the Government’s superannuation agenda is directly related to Women in Super’s policy and advocacy priorities. Although other aspects of the agenda are less relevant to our priorities, they impact the Government’s focus and resources and therefore impact our work.

Amongst a backlog of superannuation legislation, on 5 August 2023 the Government released long-awaited changes to fine-tune the performance test for My Super products and some superannuation choice products introduced as part of the Your Future Your Super reforms.

Women in Super has been advocating fiercely to keep up the pressure on the Government.

In late September, we provided feedback to the Exposure Draft of Legislating the Objective of Super. We recommended that the exploratory memorandum acknowledges the fact that many women do not receive an income over their working life that delivers a dignified retirement, as evidenced by the persistent gender super gap.

We are currently working on submissions due in the next month to the Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill, Developing the National Housing and Homelessness Plan, Securing Australians' Superannuation Consultation Paper and the Exposure Draft: Family Law Amendment Bill (No. 2). All our submissions are available to read on our website.