Media Release

ASFA welcomes new Treasury team

Published 21 September, 2015

Published 21 September, 2015

21 September 2015

ASFA welcomes new Treasury team

The Association of Superannuation Funds of Australia (ASFA) has welcomed the appointment of Treasurer The Hon Scott Morrison MP, Assistant Treasurer and Minister for Small Business The Hon Kelly O’Dwyer MP and Assistant Minister to the Treasurer Mr Alex Hawke MP, to the Treasury portfolio.

ASFA also recognises the substantial contribution that outgoing Treasurer The Hon Joe Hockey MP and Assistant Treasurer The Hon Josh Frydenberg MP made during their tenure. In particular, Mr Frydenberg played a crucial role during the Financial System Inquiry (FSI) and Tax White Paper processes.

“Currently, the superannuation system is operating well and broadly meeting its objectives as defined by the Financial System Inquiry – to provide income in retirement to substitute or supplement the Age Pension. However, there is still progress to be made through the implementation of the Financial System Inquiry recommendations and finalisation of the tax white paper process,” said ASFA CEO, Ms Pauline Vamos.

ASFA has identified two key areas of reform that can be accomplished through the tax white paper process. In order to make the system more equitable, ASFA has proposed limiting tax concessions to those with superannuation balances of over $2.5 million, while simultaneously exploring ways to make the system more fair for those with broken work patterns.

ASFA has also called upon the government to legislate the objectives and goals of the superannuation system with a focus on three key areas: ensuring adequate delivery of income stream in retirement; defining the superannuation system’s purpose and understanding what ‘success’ looks like, and improving the system to better align with the principles and goals that underpin it.

“I thank Mr Hockey and Mr Frydenberg for their contribution, and look forward to working with Mr Morrison and Ms O’Dwyer in the coming months to continuously improve the superannuation system and ensure that all Australians are financially confident about their retirement.”

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, which aims to advance effective retirement outcomes for members of funds through research, advocacy and the development of policy and industry best practice.

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.

ABN 29 002 786 290

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.