New super laws explained
Our Chief Member Officer and Deputy CEO, Marianne Walker, explains what the new objective of super laws mean for you.
In November 2024 the government passed legislation to enshrine the objective of super into law. What does this mean for you? Let's break it down.
Preserving your savings
The purpose of super is now clearly defined and protected by law.
The goal of the new law is to make sure your super savings give you a steady income when you retire.
It's about preserving your hard-earned money so you can enjoy a comfortable and dignified retirement.
Making sure changes to super laws do the right thing
Now the purpose of super has been defined and protected, any new proposed super laws must be assessed to make sure they line up with, or support this objective.
This is a big win for members. It means the focus of super is preserving savings for retirement and giving you the best chance to grow your nest egg over the years, rather than using your savings for other purposes.
Building confidence in super
Having the purpose of super defined and protected means peace of mind that your super savings are being managed with your best interests in mind. This is especially important as our super system continues to grow.
Looking to the future
We’re always fighting for a better, fairer super system and improved retirement outcomes for members like you. We’ll continue to advocate for policies that ensure your hard work pays off in retirement and super continues to deliver for generations.
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