The Australian Treasury in June released a position paper calling for reforms to encourage retirees to draw down their super balances rather than passing the money on to their beneficiaries.
Industry Super Australia (ISA) and the Australian Institute of Superannuation Trustees (AIST) have attacked Treasury’s position, claiming it is undermining confidence in the retirement system:
The strategy, which would be in place from July 1, 2022, would address a growing body of evidence showing retirees are dying with most of their wealth intact…
