On 8 December 2017 the Government announced that Treasury will conduct a review of the rules governing the early release of superannuation benefits, including for victims of crime compensation.
The rules governing early release of superannuation benefits have not changed substantially since 1997. The superannuation system has come a long way since then and it is important to ensure the arrangements remain fit for purpose.
An issues paper has been released for public consultation, examining the key issues related to the early release of superannuation benefits under compassionate grounds and severe financial hardship grounds. The paper also examines whether, and the circumstances in which, an offender’s superannuation assets should be available to pay compensation to victims of crime.
Treasury will make recommendations to the Government in mid-2018.