Protecting Your Super package

This consultation process has now been completed. Submissions available
Consultation Type
Exposure Draft

Key Documents

The Government’s Protecting Your Super package – announced in the 2018-19 Budget – is a comprehensive package of regulatory reforms designed to protect Australians’ superannuation savings from undue erosion by fees and insurance premiums.

The Government has released for public consultation exposure draft legislation and explanatory material to implement the package, which contains the following elements:

  • A cap on administration and investment fees charged on superannuation accounts with balances of $6,000 or less at 3 per cent of the account balance, in addition to banning superannuation funds from charging exit fees for any account.
  • A requirement on superannuation funds to only offer insurance on an opt in basis in relation to accounts:
    • that have balances below $6,000;
    • of new members who are under 25 years old; or
    • that have not received a contribution for 13 months or longer.
  • Changes to strengthen the ATO-led consolidation regime by requiring the transfer of all inactive accounts where the balances are below $6,000 to the ATO. The ATO will be given powers to reunite ATO-held accounts with the member’s account where possible.

Treasury received 45 submissions in response to this consultation. Of these submissions, 8 were confidential.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.


37 submissions were received for this consultation.

Actuaries Institute - pdf 108.76 KB
AustralianSuper - pdf 132.98 KB
Berrill and Watson - pdf 400.63 KB
BT Financial Group - pdf 253.78 KB
Caulfield, Craig - docx 24.36 KB
Cbus - pdf 573.26 KB
CHOICE - pdf 505.58 KB
ClearView - pdf 3.15 MB
CPA Australia - pdf 85.72 KB
First State Super - pdf 568.45 KB
First Super - pdf 412.61 KB
Inner City Legal Centre - pdf 533.19 KB
IOOF - docx 206.73 KB
Maurice Blackburn - pdf 317.23 KB
Mercer - pdf 94.45 KB
MetLife - pdf 652.7 KB
Prime Super - docx 64.84 KB
Rest - pdf 83.68 KB
RiceWarner - pdf 285.28 KB
The Tax Institute - pdf 177.69 KB
UniSuper - pdf 715.66 KB
Willis Towers Watson - pdf 216.26 KB
Women in Super - pdf 172.31 KB