Regulation of superannuation in Australia : an overview

Retirement saving is a topical issue in Australian society today. With longer life expectancy many a debate revolves around whether Australia’s retirement savings will be adequate to sustain us for the lengthier periods required without recourse to some form of government funded pension to supplement retirement savings. Hand in hand with that debate is the issue as to whether the superannuation savings that we do have are adequately protected. With increasing superannuation savings so too are the risks that these savings will not be available when the time comes to use them. This paper discusses the regulatory system that exists to safeguard our superannuation system with some consideration given to whether or not the onerous regulations that exist are justified given the current superannuation environment.