Draft Treasury Laws Amendment (Innovative Superannuation Income Streams) Regulations 2017
This submission to the Treasury was prepared by the Superannuation Committee of the Legal Practice Section.
The Committee notes that the purpose of the regulations is to give trustees and life companies flexibility in designing new lifetime pension products. The Committee agrees that the regulations will do this.
However, the flexibility will come with a reasonably high level of complexity and some degree of uncertainty for providers and members. Some of these difficulties are inherent in the complexity of the regime, but others are created by the complexity of the drafting.
You can read the full submission below.