Australia’s compulsory superannuation system has grown into a $3.3 trillion pot of money over the past three decades without a legislated purpose to help protect the interests of those who actually own it and to anchor the policy settings around it.
After failed previous attempts, Treasurer Jim Chalmers plans to enshrine in law that “the objective of super is to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way”.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
