The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, released draft superannuation income stream regulations and a draft explanatory statement for public consultation.
The regulations continue the implementation of the Government’s superannuation reforms and introduce a new set of design rules for lifetime superannuation income stream products that will enable retirees to better manage consumption and longevity risk in retirement. The regulations are intended to cover a range of innovative income stream products including deferred products, investment-linked pensions and annuities and group self-annuitised products.
Superannuation funds and life insurance companies will receive a tax exemption on income from assets supporting these new income stream products provided they are currently payable or, in the case of deferred products, held for an individual that has reached retirement.
- Actuaries Institute - PDF 58KB
- Association of Superannuation Funds of Australia - PDF 562KB
- Australian Institute of Superannuation Trustees - PDF 50KB
- Challenger - PDF 1MB
- Financial Services Council - PDF 261KB
- Financial Services Institute of Australasia - PDF 38KB
- Industry Super Australia - PDF 439KB
- Institute of Public Accountants - PDF 137KB
- Julie Matheson – WA Party - PDF 708KB
- KPMG - PDF 518KB
- Law Council of Australia - PDF 1MB
- Mercer - PDF 58KB
- Mine Wealth - PDF 503KB
- UniSuper - PDF 762KB