While we fully support consistency in future policy making around superannuation, which should broadly be aimed at providing income/benefits for individuals and their dependents in retirement, we do not support legislating the objective of superannuation as proposed in the consultation paper. Our view is that legislating the objective will not achieve any real purpose as it would not in any way be binding on current or future policy makers / governments and indeed could be completely ignored. We believe the answer to what the objective of superannuation is for already exists by way of the sole purpose test.
Read the full submission and media release here.