By 2050, almost one in four Australians will have reached retirement age, compared to one in seven today. The gift of longer life means Australia is at a critical point in the development of its retirement savings system. We need to improve the operation of the superannuation system so it can deliver a comfortable and secure retirement for current and future generations of Australians.
On 29 May 2009, the Government commissioned the Super System Review (the Review), chaired by Jeremy Cooper, to make recommendations to ensure the superannuation system has a sharper focus on operating in members’ best interests. The Review’s final report was handed to the Government on 30 June 2010.