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15 Sep 11 Early Release of Superannuation Bill awaits Royal Assent

On 15 September 2011,Superannuation Legislation Amendment (Early Release of Superannuation) Bill 2011 was passed by the Senate without amendment.

The Bill amends:

  • the Retirement Savings Accounts Act 1997 and Superannuation Industry (Supervision) Act 1993 to transfer the administration of making determinations relating to the early release of superannuation benefits on compassionate grounds to the Chief Executive Medicare; and
  • the Australian Prudential Regulation Authority Act 1998 to provide that the administration of making determinations relating to the early release of superannuation benefits on compassionate grounds continues to be funded by superannuation industry levies.

The Bill now awaits Royal Assent.

 


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