Submission – Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025

The Super Members Council thanks the Economics Legislation Committee for the opportunity to make a submission to this consultation. SMC supports Schedules 1 and 2 of the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025 (the Bill). SMC recommends that the Government, through regulation, further strengthen this bill by including safeguards on how advertised funds are displayed, including appropriate labelling, disclosures, and directing employees to the official Government comparison tool website; and that the legislation should commence on the same date as payday super reforms, so streamlined stapling processes and consumer protections operate from the start of the new framework. The proposed changes in Schedules 1 and 2 will reduce needless duplicate super accounts, which will save Australians from paying multiple sets of fees and help to boost their consolidated investment returns. These important consumer protection reforms will also better safeguard Australians from conflicted sales practices on employee onboarding platforms and further strengthen the payday super reforms.