22 March 2020
Significant changes to superannuation early release provisions
Today’s announcement by the Federal Government represents significant changes to superannuation early release provisions. Early access to retirement savings should only occur under extenuating circumstances and we need to ensure it gets to those who need it most, in an efficient manner. ASFA will work constructively with government and regulators to endeavour to minimise impact on the long term retirement savings of Australians. The measures announced are very broad in terms of eligibility and we will work with our members to help understand the challenges that will present.
For further information, please contact:
Jacqui Maddock, 0451 949 300.
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.