Major changes to the Federal Government's superannuation reforms could see an extra one million accounts fail to make the grade. 9News
superannuation reforms could see an extra one million accounts fail to make the grade.
Minister for Superannuation, Senator Jane Hume, said the reforms are all about making sure super works harder for members and claims they could save Australian workers $17.9 billion over ten years. Funds that fail the performance test once, will have to advise their members and the market that they've failed. If they fail in the following year too, they won't be able to accept new members.
"The government's been caught playing political games with superannuation, when they should have been focused on two million people who can't find jobs or can't find enough work," he said.
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