Media Release

Deferring the implementation of Royal Commission recommendations is pragmatic and sensible

Published 11 May, 2020

Published 11 May, 2020

8 May 2020

Deferring the implementation of Royal Commission recommendations is pragmatic and sensible

The Association of Superannuation Funds of Australia (ASFA) said that the updated implementation timeframe of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission) was appropriate, given the significant impact COVID-19 has had both on Government and the superannuation industry.

ASFA has advocated for a temporary deferral of Royal Commission legislation as the superannuation industry has been focused on successfully delivering the Government’s COVID-19 early release of superannuation scheme, while simultaneously continuing to ensure the long-term security of Australians in retirement.

“Superannuation funds have dedicated their focus towards effectively delivering the vital services their members need at this difficult time. This sensible deferral by Government will ensure funds can continue to focus on supporting the immediate needs of their members.”

“Maintaining the stability of the superannuation system over the course of the pandemic has been paramount, especially while administering over $9 billion in early release of super payments to more than 1 million Australians.”

The amended implementation dates also provide funds with additional time to work with Government in identifying learnings from COVID-19 and how the pandemic has impacted the Royal Commission recommendations.

p>For further information, please contact:
Jacqui Maddock, 0451 949 300.

About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political, national organisation. ASFA’s mission is to continuously improve the superannuation system, so all Australians can enjoy a comfortable and dignified retirement.

Acknowledgement of Country

We want to respectfully acknowledge the Traditional Owners and Custodians of these lands, seas, and waters throughout Australia. We pay our respects to Elders both past and present. We acknowledge the history, the resilience and the continual contributions of Aboriginal and Torres Strait Islander peoples of their Country.

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Daniel Mulino MP

Assistant Treasurer and Minister for Financial Services

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Born in Brindisi, Italy, Daniel was a young child when he moved with his family to Australia. He grew up in Canberra and completed his first degrees – arts and law – at the ANU. He then completed a Master of Economics (University of Sydney) and a PhD in economics from Yale.

He lectured at Monash University, was an economic adviser in the Gillard government and was a Victorian MP from 2014 to 2018. As Parliamentary Secretary to the Treasurer of Victoria, Daniel helped deliver major infrastructure projects and developed innovative financing structures for community projects.

In 2018 he was preselected for the new federal seat of Fraser and became its first MP at the 2019 election, re-elected in 2022 and 2025. From 2022 to 2025, Daniel was chair of the House of Representatives’ Standing Economics Committee in which he chaired inquiries; economic dynamism, competition and business formation and insurers’ responses to 2022 major floods claims.

In 2025, he became the Assistant Treasurer and Minister for Financial Services.

In August 2022, Daniel published ‘Safety Net: The Future of Welfare in Australia’, which aims to explore the ways in which an insurance approach can improve the effectiveness of government service delivery.