Treasury is responsible for advising on broad features of retirement income policy, including the objectives, adequacy and overarching framework and design of the superannuation system.
Additionally, we are responsible for modelling and analysis of the impacts of government policy on household units as well as the public finance consequences of demographic trends and population ageing.
A number of superannuation reforms were announced as part of the 2016 Budget to improve sustainability, flexibility and integrity of the superannuation system.
For further information, visit the Super Reforms page.
In addition, now that these reforms have received royal assent, information about the changes and how they will be administered are available on the ATO's website.
Legislation providing for default superannuation products called 'MySuper' was enacted in 2012. Since 1 January 2014, only funds offering a MySuper product have been eligible to receive default superannuation contributions relating to new employees.
From 1 July 2017, all member accounts in default investment options will be required to be invested in MySuper products.
For further information, visit the MySuper page.
Planning for Retirement
ASIC's MoneySmart website is a good source of information for individuals on our Superannuation system and planning for retirement.
As administrators of the super system, the ATO can help individuals understand super and work out how much you are entitled to from your employer. You can also use their online services to check, find and manage your super.
Policies & Initiatives
The Treasury manages a range of programs & initiatives that support the priorities of the Government.