Super Timeline

Curated Edition

1991

Superannuation -in the Beginning

Treasurer John Kerin introduced a new system called the Superannuation Guarantee effective from 1st July 1992.

Peer Review

World Bank endorses Australia’s three pillar system for the provision of retirement income as world’s best practice.

1993
1996

Contribution Rate

The current contribution rate in 1996 is 6%

Sharing for Heterosexuals

Superannuation assets are able to be divided between the parties in a marriage breakdown.

2002
2003

It’s Growing

Superannuation assets grow to $546 billion.

Choose your own Fund

Competition -Employees can select which Superannuation fund their money is paid into.

2005
2007

It’s great to be rich and even better if your over 60

Up to $1 million in contributions between 10 May 2006 and 30 June 2007.

Equality

Same-Sex Relationships (Equal Treatment in Commonwealth Laws Superannuation) Bill 2008 introduced.

2008
2010

Cooper Review

Governance, Efficiency, Structure & Operation of Australia’s Superannuation System.

My Super

The default superannuation account called My Super is created to simplify choosing a fund.

2013
2014

Fee and Cost Disclosure: Report 398

A report on the murky world of fee and cost disclosure.

Retirement Income Review -Ongoing

Retirement Income Review into the retirement system in Australia.

2019