Superannuation is going through one of the most significant changes since Superannuation Guarantee was introduced in 1992. Stronger Super is a set of Government reforms which have been introduced to provide a stronger, more efficient super system in order to maximise the retirement income for Australians.
By 2050 almost one in four Australians will reach retirement age, compared to one in seven today. It's also estimated Australians will run out of their retirement savings half way into their retirement.
In this environment, there's an increased need to make improvements to the Australian super system, and increase the retirement savings of Australians. This led the Federal Government to introduce the Stronger Super reforms.
We’re actively supporting these reforms to ensure more Australians take an interest in their retirement savings and better prepare for their future.
The key elements of these reforms include: