Video Conference with Senator the Hon Jane Hume, Assistant Minister for Superannuation | Financial Services | Financial Technology

“Your future, your super – making your super work harder for you” was the mantra from Senator the Hon Jane Hume, Assistant Minister for Superannuation, Financial Services & Financial Technology.

“The Morrison Government is reforming the superannuation system so that it works harder for Australians. Once implemented, these measures will benefit Australians by $17.9 billion over the next 10 years.”

“Our $3 trillion superannuation system is responsible for managing the retirement savings of 16 million Australians. The current system is letting too many Australians down.

“Australians are paying $30 billion per year in superannuation fees. This is more than the $27 billion Australian households pay on their energy bills or the $12 billion they spend on water bills.”

“At the same time, Australians hold 3 million accounts in underperforming funds managing over $100 billion of their retirement savings.”

The Assistant Minister also outlined relevant aspects of the 2020-2021 Federal Budget and the role of Fintech in Australia’s economic recovery.