“Having insurance in superannuation means that Australians have a safety net when faced with major illness or disability.” …Having insurance in superannuation means that Australians have a safety net… ”ĬALI Chief Executive Officer Christine Cupitt says in a statement that that insurance in superannuation “…is critical to ensuring Australia’s superannuation system is equitable and sustainable.”Ĭupitt says many Australians will become injured or seriously ill and will not be able to participate fully in an active working life. The consultation paper, which does not mention the word ‘insurance’, sets out the Government’s proposed definition of the objective: “…to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way. The Government says it is taking the next step towards legislating an objective for superannuation and that the consultation paper seeks feedback about the benefits, phrasing and implementation of an objective for superannuation.Ī statement from Treasurer Jim Chalmers and Minister for Financial Services, Stephen Jones, says the Government wants “… to protect super because we know that by doing this, we’re safeguarding retirement savings and improving the living standards of Australians.” Christine Cupitt …insurance in superannuation is critical to ensuring Australia’s superannuation system is equitable and sustainable…
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