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A Labor MP has encouraged Coalition MPs to fight their proposed superannuation reforms, which would give the Treasurer new powers to block funds’ investment decisions, as crossbench support for the legislation dwindles.
Cbus said the exception that was introduced on 1 April, 2020 allowed workers under 25 years old in dangerous jobs to automatically keep their insurance entitlement. Since the exception had been introduced to 31 March, 2021, 115,800 building and construction workers had obtained or retained their insurance and a total of $7,256,200 (58 claims) had been paid who would not have otherwise been eligible without the exception. “Many funds’ policies – including those funds that workers are most likely to be stapled to under Your Future Your Super – contain exclusions or unfavourable terms an...
Super reforms expose 2.7m high-risk workers: Cbus 21 April 2021 The construction industry superannuation fund has expressed concern that the government’s proposed reforms to the sector could deteriorate insurance cover for workers in dangerous occupations. Cbus has raised fears around the government’s proposed account stapling change, one of the draft Your Future, Your Super reforms, which would see employees tied to one super fund that follows them throughout their working life. The account stapling measure is aimed to cut down on duplicate accounts, but Cbus is w...
Senate Economics Legislation Committee Inquiry Into The âYour Future, Your Superâ Bill: Opening Statement - Opening Statement By ASIC Chair James Shipton At The Senate Economics Legislation Committee Inquiry Into The Treasury Laws Amendment (Your Your Future, Your Super) Bill 2021, 7 April 2021, Parliament House, Canberra Senate Economics Legislation Committee Inquiry Into The âYour Future, Your Superâ Bill: Opening Statement - Opening Statement By ASIC Chair James Shipton At The Senate Economics Legislation Committee Inquiry Into The Treasury Laws Amendment (Your Your Fut...
New super laws need sensible changes to rid the system of underperformers and ensure the disgraceful conduct unearthed by the Royal Commission does not...