Research Shows Government Super Reforms Boost Efficiency and Reduce Red Tape

Source: 
Australian Government - Hon Bill Shorten MP

Media Release February 22, 2012.  Australians are set to benefit from significant savings in superannuation as 6.9 million inactive superannuation accounts are reunited with their owners, according to research by the Financial Services Council and investment management technology provider DST Global Solutions. 

The research, released today by Minister for Financial Services and Superannuation the Hon Bill Shorten MP, looked at a key change under the Government's 'Stronger Super' reforms where inactive superannuation accounts with less than $1,000 will automatically roll over into their owners' active accounts. It found 6.9 million accounts, or a quarter of all accounts, would be consolidated into active accounts after the reform commenced on 1 January 2014.

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