Thu, 28th Aug 2025

This week in the 'Weekly Superannuation News Wrap' we delve into significant updates in the Australian super industry. Firstly, the persistent delays in Australia's Division 296 legislation stir agitation within finance and superannuation sectors, inciting calls for broader tax reform. Furthermore, potential adjustments to the superannuation performance test, originally designed to declutter underperformers, have been indicated. High default super fees have also emerged as a concern for super fund members. Treasurer Chalmers has flagged possible tax reform addressing intergenerational equity, impacting wealthy retirees. Lastly, the Treasury has established new retirement income principles, focusing on trustee empowerment and individual outcomes. Stay tuned next week for more updates on superannuation.