Working Australians deserve the highest standards of accountability from their super funds so they get the best performance for their contributions.
The Albanese government is overhauling transparency requirements so members can access clearer, more meaningful and more consistent information about their fund.
Decades of scattergun regulation has resulted in a dog’s breakfast of reporting requirements.
It’s confusing for members and onerous for funds.
We are cleaning up the mess so meaningful, detailed information is made available to members, easily and consistently.
We are:
- Introducing legislation aligning super funds’ financial and accounting reporting obligations with those on public companies. This includes filing annual, publicly‑available financial reports with ASIC.
- Launching new annual Super Transparency Report, a single source of granular, consistent information for members to compare funds’ performance and expenditure.
- Reforming existing rules so every reporting stream serves a distinct purpose, eliminating duplication and enhancing clarity.