Media Release

Your Future, Your Super regulations will place downward pressure on fees

Published 5 August, 2021

Published 5 August, 2021

5 August 2021

Your Future, Your Super regulations will place downward pressure on fees

The Association of Superannuation Funds of Australia (ASFA) welcomes today’s release of the Your Future, Your Super regulations. These regulations will deliver improved outcomes for fund members and place downward pressure on fees going forward.

“The changes to the regulations announced are measured, justified and in the long-term interests of superannuation fund members,” said CEO Dr Martin Fahy.

Commenting on the Government’s decision to amend the performance test to incorporate current administration fees, Dr Fahy said “the revised approach will align the performance test to the fees members will pay going forward and reflect the downward momentum we have seen in fees as a result of the Government’s initiatives to enhance member returns.”

“ASFA is pleased that the final regulations have addressed the concerns of wider industry stakeholders and the changes made will allow members to achieve better long-term retirement savings outcomes.”

ASFA also welcomes the decision to extend the consultation process on Portfolio Holdings Disclosure. The decision to consult further reflects the Government’s willingness to balance the need for transparency with the complexities of risk management and fund performance.

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.