Australia seeks pension law to improve retirement savings

Austraian treasurer Jim Chalmers. (Image: Getty)

Tue, 21 Feb 2023

By Amy BainbridgeAustralia is seeking to safeguard the future of its A$3.3 trillion (NZ$3.6t) pension system through laws that define its purpose, a move the government says will prevent retirement savings from being “raided” for political purposes.Treasurer Jim Chalmers is seeking responses to his proposal by the end of March, according to a statement Monday, which included the wording of planned legislation.“The objective of superannuation is to preserve savings to deliver income for a dignified retirement, alongside governm...

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