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 early 2018.
You can submit responses to this consultation up until 12 February 2018.
Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
How to respond
Address written submissions to:
Early Release Review
Retirement Income Policy Division
PARKES ACT 2600