The new Labor Government will be a strong supporter of superannuation. In fact, the Prime Minister in his election night comments mentioned his government’s support for “universal superannuation”.
Mercer’s Dr David Knox discusses the possible developments under the new Labor Government, together with the new changes effective 1 July 2022.
The following changes will occur from 1 July:
Labor has indicated it recognises the extent of superannuation regulatory reforms since the Hayne Royal Commission, and that the industry has to be able to digest these reforms. As a consequence, it is not looking at a substantive overhaul of any of the recent superannuation reforms. However, as it seeks maintenance of the superannuation system, we can expect the following topics to be considered.
Learn more about what the new Government means for Superannuation.
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