Labor has released draft laws defining the objective of superannuation in a move Treasurer Jim Chalmers says will prevent a repeat of the “devastating” raid on retirement savings under the Coalition government during the pandemic.
The draft legislation defines the purpose of super as being “to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way”.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
