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  • Turning vision into reality

    December is an ideal time to take stock and prepare for the year ahead. If we think about how much has changed over the past five years, with digital technology in particular, we can safely assume change will continue at a rapid pace.

    Just like many of our readers, we're in the business of turning concepts into reality; the implementation of any major reform must not only be designed to be ‘fit for purpose’ but also ‘fit for the future’. Or to put it another way: super is about people and their future. So, we'll keep the client experience front and centre of all we do, because we know our approach and actions impact your members' plans for their investments and their retirement.

    Our focus on proactive reuniting of super accounts and balances and reducing the incidence of non-payment of super guarantee in the community are key examples of this. Aided by the introduction of Single Touch Payroll and fund event-based reporting, we now have an unprecedented level of ‘visibility’ of super information at the account and transaction level and we’re increasingly using this capability.

    We’ve also facilitated access for people to their super through a range of government super release schemes that we administer: the First Home Super Saver (FHSS) scheme, the Downsizer measure and the compassionate release of super scheme.

    We recently launched myGovID, the Federal Government's digital identity solution which aims to transform how Australians interact with government. It will be faster and easier to prove who you are when accessing government online services. If you’re using an AUSkey today, you’ll need a myGovID because we’ll be decommissioning AUSkey in March next year. I discussed this, and other matters of interest to APRA funds, in my recent speech Payroll, tax and superannuation: an important relationship.

    While we can't predict the next wave of reform, we can confirm our commitment to ensuring that super is visible, valued and owned. We're 'future ready' and looking forward to another year of productive engagement with you.

    Have a safe and happy holiday season.

    James O'Halloran
    Deputy Commissioner
    Superannuation and Employer Obligations

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      Last modified: 16 Dec 2019QC 61003