1 May 2021 - Governments continues push for retirement futures to look super

The superannuation sector breathed a sigh of relief, with the 2021-22 Federal Budget seeing changes to various thresholds and tests rather than significant reforms to the super system.

The Morrison government reiterated its commitment to the Your Future, Your Super agenda as well. Super funds have welcomed the government’s pledge to amend the criteria to be included in APRA’s annual superannuation performance test, improving the legislation’s prospects for passing in time for planned 1 July 2021 implementation.