Shaping a stronger super system

30 October 2026

Australia's superannuation system is one of the best in the world¹ and is helping millions of Australians build savings for retirement. As more people move from saving for retirement to living in retirement, it’s important we work to make the system fairer, simpler and more secure.

Several important reforms have been introduced to help more Australians benefit from superannuation, strengthen protections and improve retirement outcomes. These include changes to the Low Income Superannuation Tax Offset (LISTO), super on government-funded Paid Parental Leave and Payday Super. While the system is strong, there is more work to do to ensure it meets the needs of Australians today and in the future.

Fairness and equity

A strong retirement system should work for everyone, regardless of their income, gender or employment type. Three key changes are helping to improve fairness and strengthen retirement outcomes for more Australians.

Better support for low-income earners

Changes to the Low Income Superannuation Tax Offset (LISTO), which take effect from 1 July 2027, will increase the maximum refund available to eligible workers from $500 to $810 and lift the income threshold for eligibility from $37,000 to $45,000. This helps ensure low-income earners receive a tax benefit for saving through superannuation that is more comparable to other workers.

For members, this means more people on lower incomes will receive additional support to build retirement savings.

Super on Paid Parental Leave

From 1 July 2026, superannuation is paid on Commonwealth Government-funded Paid Parental Leave for children born or adopted from 1 July 2025.

Career breaks and time spent caring for family can negatively affect retirement savings. Paying super on Paid Parental Leave helps reduce some of that impact and is an important step towards improving long-term retirement outcomes, particularly for women.

Payday Super

From 1 July 2026, employers are required to pay superannuation at the same time as salary and wages.

This change will help reduce missed or delayed super payments through better detection of non-payment and allows contributions to be invested sooner. For members, that means more opportunities to benefit from compounding investment returns over time. Payday Super will particularly benefit younger workers, women and those in lower-paid, casual or insecure work.

Protecting and strengthening safeguards

As super balances grow, protecting members, especially those more vulnerable to harm, becomes even more important.

We support reforms to better protect members, including measures related to family and domestic violence and broader efforts to combat scams, fraud and other threats to members’ retirement savings and the system more broadly.

Strong safeguards help maintain confidence in the superannuation system and support better outcomes for members over the long term.

The path to retirement is changing

Retirement looks different for every Australian.

People are living longer, working longer and moving between work, caring responsibilities and retirement in different ways. Rather than being a single event, retirement is increasingly a transition that can take place over many years.

As retirement becomes more complex, the system needs to be easier to navigate. Priorities include improving access to guidance and advice, helping people move more easily between work and retirement, and supporting better connections between superannuation and other sources of retirement income such as the Aged Pension.

The goal is a retirement system that helps people make informed decisions and feel more confident about their financial future.

How does AustralianSuper advocate for members?

AustralianSuper engages with government, regulators and industry to advocate for policy settings that improve member outcomes and strengthen the superannuation system. Key areas of focus include fairness and equity, consumer protections, retirement system design and broader issues that affect members' financial wellbeing. AustralianSuper also works with industry bodies including the Super Members Council and the Association of Superannuation Funds of Australia (ASFA) to support reforms that strengthen the system over time.