Australia’s 2020–21 Federal Budget introduced the Your Future, Your Super reforms, aiming to improve transparency and protect employees’ retirement savings. Key measures included a YourSuper comparison tool, a requirement from November 1, 2021 for employers to check with the ATO for an employee’s existing “stapled super fund,” updated trustee duties to act in members’ best financial interests, and APRA-led underperformance assessments published publicly. The reforms received royal assent, establishing a framework to reduce duplicate accounts and improve fund accountability.

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