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Super reforms from 1 July 2021
7 July 2021
This year we’re seeing significant changes to super with the implementation of the government’s Your Future, Your Super reforms first announced in the October 2020 Federal Budget. The changes are designed to increase super funds’ accountability and transparency and give Australians greater control over their super. In addition, the More Flexible Superannuation reforms make a number of changes to certain age and contribution limits.
- Super stapling – from 1 November, when people change jobs they will automatically be ‘stapled’ to a super fund
- Underperforming funds – a new annual performance test will measure all MySuper products against a benchmark portfolio
- YourSuper comparison tool – a new tool run by the ATO will allow members to compare super fund performance and fees
- Increases to the SG rate and contribution caps from 1 July.
Read the full overview.
Information on this page is current at time of publication.