Media Release

ASFA calls for pragmatism and co-operation at this significant time for super system reform

Published 25 June, 2013

Published 25 June, 2013

25 June 2013

ASFA calls for pragmatism and co-operation at this significant time for super system reform

The Association of Superannuation Funds of Australia (ASFA) is calling for regulatory pragmatism when it comes to the implementation of the reforms contained in the Superannuation Legislation Amendment (Service Providers and Other Governance Measures) Bill 2012 given that it only passed through the Senate today.

ASFA CEO Pauline Vamos says the Bill and associated regulations contain substantial and complex changes that impact many parts of the operation of superannuation funds. A substantial number of these changes start next month.

“With 1 July looming, the late passage of this Bill has left funds with just under a week to ensure they comply. Given that there are still many details which need to be determined in relation to implementation, we are calling on regulators to be pragmatic in their approach to enforcing compliance,” Ms Vamos says.

Ultimately it is in fund members’ best interests that implementation costs are minimised and that risks are managed in a prudent manner.

ASFA is also urging all sides of politics to work together to ensure there are no Bills relating to superannuation left in limbo when the Parliament rises this week. “The last thing people need right now is to have further uncertainty when it comes to planning for their retirement, therefore we urge all politicians to work together this week and ensure all Bills related to superannuation are passed before the week ends,” Ms Vamos concluded.

For further information, please contact:

Lisa Chikarovski, Media Manager, 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 whose aim is 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.

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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.