Treasury is responsible for advising on broad features of retirement income policy, including the objectives, adequacy and overarching framework and design of the superannuation system and proposals for alternative personal savings vehicles.
Additionally, we are responsible for modelling and analysis of the impacts of government policy on household units as well as the public finance consequences of demographic trends and population ageing.
More Super
The More Super website can help you calculate the benefits to you from recent changes to the Government's superannuation policies, including:
- increasing the required contribution to the employee superannuation from 9 to 12 per cent, progressively commencing from 1 July 2013
- providing and additional boost to the superannuation of low-income workers. People earning up to $37,000 will receive an annual tax refund of up to $500 info their fund starting from 1 July 2012, and
- abolishing the age limit on the superannuation guarantee from 1 July 2013 to help employees aged 70 and over.
For further information, visit the More Super website.
Stronger Super
The Australian Government's reforms to our superannuation system will make the system stronger and more efficient, and will help to maximise retirement income for members. Reforms include:
- creating a new simple, low cost default superannuation product called 'MySuper'
- making the processing of everyday transactions easier, cheaper and faster, through the 'SuperStream' package of measures, and
- strengthening the governance, integrity and regulatory settings of the superannuation system, including in relation to self managed superannuation funds.
For further information, visit the Stronger Super website.
Superannuation Roundtable
Superannuation Roundtable considers ideas raised at the Tax Forum for providing Australians with more options in retirement and improving certain superannuation concessions.
Super System Review
The Super System Review was completed in June 2010. The review examined and analysed the governance, efficiency, structure and operation of Australia's superannuation system, including both compulsory and voluntary aspects.
For further information on the outcomes of the review, visit the Super System Review website.