Government moves to increase super fund transparency

The federal government is overhauling transparency requirements so members can access clearer, more meaningful, and more consistent information about their superannuation funds. 

In an update from financial services minister Stephen Jones on Thursday, he said the government will: 

• Introduce legislation aligning super funds’ financial and accounting reporting obligations with those on public companies;
• Launch new annual Super Transparency Report, a single source of granular, consistent information for members to compare funds’ performance and expenditure; and
• Reform existing rules so that every reporting stream serves a distinct purpose.