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Retirement Income Covenant

This consultation process has now been completed. Submissions available
Consultation Type
Position Paper

Key Documents

The Government invites feedback on this retirement income covenant position paper.

The proposed retirement income covenant outlines a pathway to further develop the retirement phase of superannuation. The covenant will place a key obligation on trustees to formulate, review regularly and give effect to a retirement income strategy outlining how they plan to assist their members to balance key retirement income objectives.

The Government welcomes feedback and comments on this position paper. Any comments received will feed into the development of legislation to give effect to the retirement income covenant. Subject to the passage of legislation, trustees will be required to have in place a retirement income strategy as outlined in this position paper from 1 July 2022.

All superannuation industry stakeholders, along with other interested parties are encouraged to provide input on the position paper by 6 August 2021.


66 submissions were received for this consultation, including 5 confidential submissions.

Actuaries Institute - pdf 114.97 KB
AIA - pdf 149.95 KB
AMP - pdf 152.43 KB
Atchison Consultants - pdf 178.77 KB
Australian Super - pdf 498.97 KB
Aware Super - pdf 250.8 KB
CBUS - pdf 299.02 KB
Challenger - pdf 1.26 MB
Colonial First State - pdf 223.29 KB
Connecting Every Dot - pdf 1.01 MB
COTA - pdf 257.55 KB
Cridland, Patrick - pdf 67.39 KB
Deloitte - pdf 182.04 KB
Fidelity International - pdf 324.33 KB
Forsyth, Stuart - pdf 73.04 KB
Frontier Response - pdf 81.04 KB
GMS Superannuation - pdf 132.85 KB
Gold Coast Retirees - pdf 227.43 KB
Gregor, Bruce - pdf 119.66 KB
Homesafe Solutions - pdf 297.5 KB
Household Capital - pdf 501.67 KB
Industry Super Australia - pdf 348.51 KB
IOOF - pdf 161.7 KB
KPMG - pdf 1.56 MB
Lifetime Income - pdf 672.76 KB
Lillicrap, Gerard - pdf 81.13 KB
Max - pdf 709.86 KB
Mercer - pdf 209.14 KB
MLC - pdf 292.75 KB
Oakey, Jim - pdf 170.74 KB
Optimum Pensions - pdf 446.14 KB
Plan for Life - pdf 202.42 KB
Pollock, Adrian - pdf 145.09 KB
QSuper - pdf 163.79 KB
Reid, Robert - pdf 132.94 KB
REST - pdf 116.24 KB
Safe Super - pdf 152.6 KB
Smart Pension - pdf 491.5 KB
SMSFA - pdf 227.22 KB
TAL - pdf 328.86 KB
Telstra Super - pdf 192.54 KB
The Conexus Institute - pdf 304.69 KB
The Tax Institute - pdf 118.32 KB
Willis Towers Watson - pdf 147.78 KB