Australia's superannuation system is a global leader.

Worth around AUD $3.4 trillion, the nation should be proud of the world's fifth-largest super system, one that covers around 16 million Australians as they work towards retirement.

So, why is the Australian Government seeking to legislate an "objective" for super? A public consultation on the objective recently closed, and CPA Australia has made a submission.

CPA Australia thinks that superannuation is only one component of a broader retirement savings system and, therefore, should not be considered in isolation.

Furthermore, there should be a clear long-term vision articulated for Australia's retirement savings system.

We speak with the author of CPA Australia's submission to learn more.

Listen now.

Host: Dr Jane Rennie, General Manager Media and Content, CPA Australia

Guest: Michael Davison, Senior Manager Advocacy and Retirement Policy, CPA Australia

For information on today's topic, you can read CPA Australia's submission on legislating an objective for the superannuation system.

And for more, CPA Australia has a summary page with policy perspectives to government policy, legislative or administrative announcements.

CPA Australia publishes three podcasts, providing commentary and thought leadership across business, finance and accounting:

• With Interest
• INTHEBLACK
• Excel Tips

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You can email the podcast team at [email protected]