Super peak body ASFA welcomes the passage of legislation closing a loophole that allowed convicted child sexual abusers to hide money in super to avoid paying compensation to their victims.
The Treasury Laws Amendment (The Survivors Law) Bill passed the Senate today in a significant win for justice for sexual abuse victims.
The law allows victims whose court-ordered compensation has gone unpaid for more than 12 months following their perpetrator’s conviction to access that perpetrator’s superannuation to ensure the compensation is paid.
“Convicted perpetrators of child sexual abuse will no longer be able to misuse the super system to put themselves beyond the reach of justice. ASFA has long advocated for this change and welcomes its passage into law,” said ASFA CEO Mary Delahunty.
ASFA engaged directly with Treasury during consultation, supporting the intent of the laws while pushing for stronger protections for victims. ASFA argued that regulators must be able to lock down a perpetrator’s super assets before notifying them of proceedings, removing any chance to move money out of reach.
For further information, please contact:
Scott Roberts, ASFA Media Lead
mediaunit@superannuation.asn.au
About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry, and the only industry body that represents all parts of the APRA-regulated system.
Our more than 100 members include retail, industry, corporate and public sector funds and their service providers. For over sixty years, ASFA has been the voice of super, advocating for a dignified retirement for all Australians. Through research, advocacy and collaboration, ASFA promotes efficiency, sustainability and trust in Australia’s world-class retirement income system.