

- Title
BILLS
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012
Second Reading
- Database
Senate Hansard
- Date
22-11-2012
- Source
Senate
- Parl No.
43
- Electorate
- Interjector
- Page
9601
- Party
ALP
- Presenter
- Status
Final
- Question No.
- Questioner
- Responder
- Speaker
Wong, Sen Penny
- Stage
Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012
- Type
- Context
BILLS
- System Id
chamber/hansards/8c264796-9a16-462c-8fff-2c57d7357f38/0206


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-
Hansard
- Start of Business
- BILLS
- PETITIONS
- NOTICES
- BUSINESS
- NOTICES
- BILLS
- COMMITTEES
- BUSINESS
- MOTIONS
- COMMITTEES
-
BILLS
- Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012, Superannuation Auditor Registration Imposition Bill 2012
- Tax Laws Amendment (Clean Building Managed Investment Trust) Bill 2012
- Tax Laws Amendment (2012 Measures No. 5) Bill 2012
- Corporations Legislation Amendment (Derivative Transactions) Bill 2012
- Personal Liability for Corporate Fault Reform Bill 2012
- Superannuation Legislation Amendment (New Zealand Arrangement) Bill 2012
- Freedom of Information Amendment (Parliamentary Budget Office) Bill 2012
- Judicial Misbehaviour and Incapacity (Parliamentary Commissions) Bill 2012, Courts Legislation Amendment (Judicial Complaints) Bill 2012
-
QUESTIONS WITHOUT NOTICE
-
Corruption
(Fifield, Sen Mitch, Carr, Sen Bob) -
Murray-Darling Basin
(McEwen, Sen Anne, Conroy, Sen Stephen) -
Economy
(Cormann, Sen Mathias, Wong, Sen Penny) -
Murray-Darling Basin
(Milne, Sen Christine, Conroy, Sen Stephen) -
Prime Minister
(Brandis, Sen George, Evans, Sen Christopher) -
Vocational Education and Training
(Marshall, Sen Gavin, Evans, Sen Christopher) -
Asylum Seekers
(Cash, Sen Michaelia, Lundy, Sen Kate) -
Intellectual Property Rights
(Madigan, Sen John, Lundy, Sen Kate)
-
Corruption
- QUESTIONS WITHOUT NOTICE: ADDITIONAL ANSWERS
- QUESTIONS WITHOUT NOTICE: TAKE NOTE OF ANSWERS
- COMMITTEES
- BILLS
- DOCUMENTS
- COMMITTEES
- BILLS
- MOTIONS
- BUSINESS
-
BILLS
- Access to Justice (Federal Jurisdiction) Amendment Bill 2011
- National Health Security Amendment Bill 2012
- Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2012
-
Equal Opportunity for Women in the Workplace Amendment Bill 2012
- Second Reading
-
In Committee
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Wong, Sen Penny
- Cash, Sen Michaelia
- Rhiannon, Sen Lee
- Wong, Sen Penny
- Cash, Sen Michaelia
- Third Reading
- Dental Benefits Amendment Bill 2012
- ADJOURNMENT
- DOCUMENTS
Page: 9601
Senator WONG (South Australia—Minister for Finance and Deregulation) (20:03): I thank all senators who have participated in this debate as it has been the subject of a number of contributions. This is a bill which delivers on the Labor government's 2010 election commitment to introduce a new, simple low-cost default superannuation product, called MySuper. It represents yet another important step in improving the efficiency, competition, transparency and governance arrangements for the superannuation industry.
MySuper is one part of the government's comprehensive agenda to make superannuation simpler, fairer and more efficient in order to deliver better retirement incomes. In combination, the government's superannuation reforms are estimated to increase retirement superannuation balances by almost $150,000 for a 30-year-old worker earning average full-time wages. MySuper will benefit the estimated 60 per cent of working Australians who are currently in the default investment option of a default fund.
There were a number of contributions in this debate which would pertain to the amendments to be moved by the opposition. I will respond to those in the context of the committee debate. I commend the bill to the Senate.
Question agreed to.
Bill read a second time.