The Your Future, Your Super legislation announced in the 2020 Federal Budget and currently before Parliament proposes the most significant changes to superannuation since the system started.

Although there is widespread support for the intent of the legislation, which is to reduce multiple accounts, address super fund underperformance and improve transparency and accountability, the approach proposed in the legislation is another matter. A broad range of submitters on the legislation have voiced profound concerns that not only will the legislation fail to reach its objectives, it will actually make outcomes worse for members. These concerns are heightened by the fact that the legislation departs significantly from Productivity Commission and Royal Commission recommendations and delegates significant power to the regulations, which are yet to be released.

This episode is the audio from a webinar recorded on 29 March 2021 where our panel of experts break down the ramifications for trustees.

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