2 years, 1 month ago

Labor's move to define super's 'objective' should leave room for debate on its use for housing

The Albanese government is prodding the superannuation bear, which can be a dangerous beast when stirred. 'Dutton-proofing' the super system The government's plan to legislate the "objective" of superannuation has implications for the Coalition. Photo shows Chalmers calls for crackdown on early super access Political ideology and business interests have long guided decision-making on what happens to people's superannuation. The discussion paper Treasurer Jim Chalmers released this week proposes a definition that says: "The objective of superannuation is to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way." Explaining the various terms in the objective, the paper notes that to "preserve savings restricts access to superannuation savings for a person's retirement only".

ABC

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