Better Super
New Laws Designed to Simplify Superannuation.
The Australian Government has passed new legislation designed to simplify superannuation. The Simplified Superannuation reforms will make superannuation easier to understand, improve incentives to work and save, and provide greater flexibility over how superannuation savings can be drawn down in retirement.
The Federal Government has launched a media campaign to help explain the changes to super. A new web site has been created as part of this campaign. Check it out at: www.ato.gov.au/bettersuper
What do the changes mean for WALGSP and its Members?
Some members may need to pay particular attention to the various deadlines relating to the new super rules. There are some transitional arrangements which could significantly affect some members. As each individuals circumstances are different, we recommend you contact our Member Services and speak to a qualified Financial Advisor.
Check out the changes here.
