That’s a wrap for Need to Know this Wednesday, February 22.

Many thanks for reading along. Catch up on what’s happened so far today:

Super tax changes won’t impact punters with $150,000, PM says: Prime Minister Anthony Albanese has said he does not plan to create “major changes” in superannuation, but the Labor government would assess the upcoming superannuation review’s findings before continuing the debate on the purpose of superannuation. Asked whether potential tax concession changes to super would affect Australians who contributed to super based on those current rates, the PM said his party would always give assurances that it is “absolutely committed to universal superannuation”.

MBA no longer an ‘automatic stamp’ for climbing corporate ladder: An MBA is no longer an “automatic stamp” for allowing people to rise in corporate life, University of Sydney’s vice-chancellor and president said. Mark Scott said the decline in the MBA lustre was part of a broader shift towards fewer workers going back to university to study master’s degrees. He said people were looking for learning that was more specific than what those degrees have traditionally offered.

No role can be worked completely remote, CBA says: The Commonwealth Bank is against 100 per cent remote working, saying working from home more than a couple of days a week reduces collaboration by a third. CBA group human resources chief Sian Lewis told The Australian Financial Review’s Workforce Summit that “we do not believe that there’s any role that can be done completely remotely”.

Major employers, including BHP, say labour turnover has come down: Major employers are saying labour turnover has come down after the shock of border closures but are concerned that future wage pressures remain linked to productivity. BHP chief people officer Jad Vodopija told The Australian Financial Review’s Workforce Summit that “turnover has moderated for us”, and while not at pre-pandemic levels was more manageable than a year ago.

Chief scientist raises doubts on egg freezing push: Australia’s chief scientist Cathy Foley says the pressure to delay having a family to focus on a career is a sign that we don’t have the right support in place for women in the workplace. ”I’ve just heard an advertisement saying freeze your eggs now in your 20s and 30s,” Foley said. “That’s terrible if we’re living in a country where you have to freeze your eggs because you’ve got to get your career under control before you actually can think about having a family.

Purpose of migration system no longer clear, says O’Neil: There are fundamental questions about the Australia’s immigration system that remain unanswered, Home Affairs minister Clare O’Neil told The Australian Financial Reviews Workforce Summit.

Visa systems should be able to pick out power couples, O’Neil says: Home Affairs minister Claire O’Neil has highlighted the visa experience of US-born physicist Brian Schmidt and his wife, Harvard-educated economist Jenny Gordon, as something to emulate.

Chalmers talks of $3m super balances: Treasurer Jim Chalmers says not many people have a superannuation balance above $3 million, but the superannuation tax breaks are costing the budget a lot of money.