More super changes in Parliamentary spotlight
Both the consolidation of superannuation accounts and the Government's move to narrow the accessibility of the superannuation co-contributions regime will be subject of evidence to be given to a Parliamentary Committee in Canberra on Thursday.
The House Economics Committee will hear from a range of bodies including the Association of Superannuation Funds of Australia (ASFA) and the Australian Institute of Superannuation Trustees on the legislative measures during the hearings.
Key amongst the issues being examined is the process around the consolidation of multiple superannuation accounts within a single fund and whether fund trustees should be responsible for consolidating those accounts.
The committee will also hear evidence around the Government's legislation making changes to the superannuation co-contribution regime for low income earners, including reducing the rate of co-contribution from 100 to 50 per cent, and reducing the higher income threshold from $30,000 to $15,000 above the lower income threshold.
Consideration of the changes to super, some of which flow from the 2012 Budget, come just days after the Government's latest policy announcements around super ahead of the May Budget.
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Staff Writer
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