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Superannuation

The Australian Government asked the Productivity Commission to undertake a review of the competitiveness and efficiency of the Australian superannuation system. This is the third and final stage of the Commission's current work on superannuation.

Stage 1 developed a framework for assessing the competitiveness and efficiency of the superannuation system, which forms the basis for the assessment in stage 3. The final report for stage 1 was published in November 2016.

Stage 2 examines alternative models for a formal competitive process for allocating default fund members to default superannuation products. In the context of receiving the terms of reference for the stage 3 inquiry into the Competitiveness and Efficiency of Australia's Superannuation System, the Treasurer has agreed that the stage 2 inquiry be incorporated into and finalised as part of the stage 3 inquiry by June 2018.

More detailed information can be found via the links below.

timeline showing how after the initial study an inquiry into default models will be held, both of which will feed into a second inquiry which is a review and then the Government will consider the outcomes by 2020.+ Click to enlarge image

Stage 1: How to Assess Competitiveness and Efficiency

The study developed criteria to assess the efficiency and competitiveness of the superannuation system. Commissioners working on this study were Karen Chester and Angela MacRae.

Stage 2: Alternative Default Models

The inquiry examines alternative models for a formal competitive process for allocating default fund members to products. Commissioners working on this inquiry are Peter Harris and Karen Chester.

Stage 3: Assessing Competitiveness and Efficiency

The Australian Government has asked the Productivity Commission to undertake a 12 month inquiry into the competitiveness and efficiency of Australia's superannuation system. Commissioners working on this inquiry are Karen Chester and Angela MacRae.

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The Commission invites interested people and organisations to make a submission.

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