This submission has been prepared by Rice Warner as a response to the Discussion Paper, Objective of Superannuation, issued by Treasury on 9 March 2016.

The Financial System Inquiry (FSI) recommended, that the primary objective of superannuation be:

To provide income in retirement to substitute or supplement the Age Pension

The Government has accepted this recommendation. However, it now wants to canvass industry opinion on this purpose as well as determining whether to accept or modify the subsidiary objectives of the FSI.