Super reform – a guide for APRA funds
As part of the government’s efforts to reform superannuation, the way super funds interact with each other, employers and us, is changing.
Standardising the exchange of information and money will result in faster processing times for rollovers and contributions, fewer data integrity issues, and less time out of the market for members' funds.This guide is based on government policy announcements, recent legislative changes and consultative discussions with the super industry on changes to the super system. These policies continue to change until confirmed through the passage of legislation. We're regularly updating information about these changes and their planned implementation.
This information will help you understand super reforms being implemented over the next few years and to prepare for the changes. It'll also tell you what your members can see and do online.
Industry submissions to the Super System Review estimated that savings up to $1 billion annually are achievable from the SuperStream reforms.
SuperStream has resulted in member account consolidations and has reduced the number of newly created accounts.
We welcome your reform-related questions and will use your feedback to update this information and keep it relevant for you.
Send your comments or questions to firstname.lastname@example.org