ASFA, the Voice of Super, welcomes the announcement of The Hon. Dr Daniel Mulino as the new Assistant Treasurer and Minister for Financial Services in the re-elected Albanese Government.
“We congratulate Minister Mulino on his appointment and look forward to establishing a positive and fruitful working relationship with him,” said ASFA CEO Mary Delahunty.
“Australia’s superannuation funds manage $4.2 trillion to deliver strong retirement outcomes for 17 million working Australians, with $2.4 billion being paid out every week to members. Superannuation is a pillar of our economic stability.”
Ms Delahunty added that ASFA is ready to work closely with the incoming government to secure the delivery of the key reforms it outlined as priorities before the election, including:
- Improving retirement outcomes through quality advice
The Superannuation sector’s ambition is to give every single Australian the opportunity to access quality and affordable financial advice and achieve the goal of more Australians being able to access affordable and quality advice to plan for a strong retirement.
“We know a nation of people who are well-informed about their retirement and have options to get guidance on areas they are unsure of will empower individuals and lead to better outcomes,” Ms Delahunty said.
- Implementing Payday Super without delay
Putting Payday Super in place by 1 July 2026 will ensure all working Australians receive their superannuation payments at the same time as their wages, leading to tangible improvements in tackling the underpayment of super, and maximising the retirement outcomes of working Australians.
- Working with the superannuation sector to tackle financial abuse
ASFA welcomed the Government’s commitment during the election campaign to end financial abuse in super, and will work with government to identify the necessary amendments to protect vulnerable Australians from financial abuse and ensure superannuation is protected and preserved for retirement.
“Superannuation is working well and Australians know it – they’re seeing the outcomes of a successful system which is paying dividends for better retirement outcomes,”
“Protecting people’s super, getting it paid on time, and giving people the guidance they need in retirement will take this world-leading system and make it even better,”
“We look forward to working with Minister Mulino and the re-elected government to make these changes happen,” Ms Delahunty concluded.
For further information, please contact:
ASFA Media Manager Richard Garfield, 0451 949 300.
About the Association of Superannuation Funds of Australia (ASFA)
ASFA, the voice of super, has been operating since 1962 and is the peak policy, research and advocacy body for Australia’s superannuation industry. ASFA represents the APRA regulated superannuation industry with over 100 organisations as members from corporate, industry, retail and public sector funds, and service providers. We develop policy positions through collaboration with our diverse membership base and use our deep technical expertise and research capabilities to assist in advancing outcomes for Australians.
We unite the superannuation community, supporting our members with research, advocacy, education and collaboration to help Australians enjoy a dignified retirement. We promote effective practice and advocate for efficiency, sustainability and trust in our world-class retirement income system.
