Why legislate an objective for Australia's superannuation system?

Why legislate an objective for Australia's superannuation system?

Author: CPA Australia April 4, 2023 Duration: 15:57

Australia's superannuation system is a global leader. 

Worth around AUD $3.4 trillion, the nation should be proud of the world's fifth-largest super system, one that covers around 16 million Australians as they work towards retirement. 

So, why is the Australian Government seeking to legislate an "objective" for super? A public consultation on the objective recently closed, and CPA Australia has made a submission. 

CPA Australia thinks that superannuation is only one component of a broader retirement savings system and, therefore, should not be considered in isolation. 

Furthermore, there should be a clear long-term vision articulated for Australia's retirement savings system. 

We speak with the author of CPA Australia's submission to learn more. 

Listen now. 

Host: Dr Jane Rennie, General Manager Media and Content, CPA Australia

Guest: Michael Davison, Senior Manager Advocacy and Retirement Policy, CPA Australia 

For information on today's topic, you can read CPA Australia's submission on legislating an objective for the superannuation system. 

And for more, CPA Australia has a summary page with policy perspectives to government policy, legislative or administrative announcements

CPA Australia publishes three podcasts, providing commentary and thought leadership across business, finance and accounting: 

Search for them in your podcast platform. 

You can email the podcast team at podcasts@cpaaustralia.com.au


Tune in to With Interest for a clear-eyed look at the forces shaping the world of business and finance. Presented by CPA Australia, this weekly discussion moves beyond the headlines to explore the practical implications of change for accounting professionals, business leaders, and anyone with a stake in the economic landscape. You’ll hear from practitioners and experts who break down complex topics in auditing, taxation, and corporate strategy into actionable insights. The conversations in this podcast are grounded in real-world application, whether the subject is a shift in regulatory frameworks, emerging leadership challenges, or broader economic trends. It’s a resource designed to inform your decisions and deepen your understanding of the professional landscape. For those looking to stay current and think critically about their work, With Interest provides a reliable and engaging audio companion. Each episode serves as a timely update and a catalyst for deeper professional reflection, all delivered with the authority and depth you would expect from CPA Australia.
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