color strip

Superannuation Laws Amendment (Unclaimed Superannuation Money) Regulation 2015

29 September 2015 | Exposure Draft

Exposure draft legislation is being released for consultation on the 2015-16 Budget measure to reduce red tape for superannuation funds and individuals by streamlining lost and unclaimed superannuation administrative arrangements.

The measure:

  • allows Eligible Rollover Funds, which are temporary repositories for inactive superannuation accounts, to proactively consolidate accounts they hold into the active superannuation accounts of members without their consent;
  • ensures that members who interact with their superannuation fund through contemporary means of communication such as email and online interactions, are not inadvertently deemed to be lost members; and
  • removes an out-dated rule that prevents the identification of certain lost inactive members, that is by removing the 'employer-sponsored' members rule.

The changes apply from 30 June 2016.

Submissions closed on Tuesday 20 October 2015

Key Documents

Ref Num: {4CA86DD1-2062-426A-A324-7E74876278CD}
color strip

Contact the Treasury

Telephone +61 2 6263 2111 or
1800 020 008 (Switchboard, 8.00 am to 5.30pm AEST)
Facsimile: + 61 2 6263 2869
Email Us
ABN: 92 802 414 793