The Australian Prudential Regulation Authority (APRA) has released findings from a review of the amendments to the Superannuation Guarantee (Administration) Act 1992 (SGAA), introduced by the Treasury Laws Amendment (Your Superannuation, Your Choice) Act 2020 (YSYC Act).
Following the requirement of the YSYC Act to review the operation of the amendments to the SGAA, APRA has produced a report on the unintended consequences of these amendments for defined benefit (DB) schemes, including the ongoing viability and profitability of these schemes.
This report was also tabled in both houses of the Parliament on Tuesday, 9 May 2023 as per the requirements of the YSYC Act.
The report and non-confidential submissions that assisted informing the review are available on the APRA website at: Review of amendments to the Superannuation Guarantee (Administration) Act 1992.
