Powered by MOMENTUM MEDIA
accounting times logo

Powered by MOMENTUMMEDIA

Powered by MOMENTUMMEDIA

Super bodies call for ‘swift’ law amendment

Profession
09 August 2024
super bodies call for swift law amendment

Superannuation bodies have urged the Australian government to reform superannuation laws to stop family violence perpetrators from being able to claim their victims’ super.

The Super Members Council (SMC), the Association of Superannuation Funds of Australia (ASFA) and Women in Super (WIS) have urged the government to “swiftly” amend the super laws.

The three associations wrote to Assistant Treasurer Stephen Jones and other key ministers to ask for the super’s death benefit laws to be changed.

Currently under existing laws, an abuser can receive a victim’s superannuation death benefit unless they are the direct cause of that person’s death.

==
==

According to SMC, ASFA and WIS, this law currently applies even if the perpetrator has been previously convicted of family violence affairs or in cases of systemic abuse which indirectly contributed to the cause of the victim’s death.

SMC CEO Misha Schubert said perpetrators should not profit from their crimes.

“It’s time to close this legal loophole to protect victims of family violence and financial abuse,” she said.

“A perpetrator getting into their victim’s super death benefit is an extension of the abuse and the super sector has come together to call for urgent reform.”

In the letter to the assistant treasurer and key ministers, SMC, ASFA and WIS proposed possible changes to the laws which would provide justice for domestic violence victims and the result of their super.

The proposed changes included ”expanding the forfeiture rule to family violence-related crimes”, “Investigative legislative reforms that would allow super funds to withhold death benefits in substantiated cases of family violence”, and “Clear and robust evidence standards, judged by an independent body such as a court”.

ASFA CEO Mary Delahunty (pictured) said the reforms the associations have called for ensure people’s superannuation is not used as a financial reward for perpetrators.

“Our sector is unified in the belief that victims of family violence should be further victimised through the misuse of the superannuation system,” she said.

“These reforms are about standing up for victims of family violence. We are committed to working with the government to make these necessary changes to protect those who have been wronged, not those who have caused harm.

Women in Super CEO Jo Kowalczyk said the law reform would highlight Australia’s stance towards domestic violence.

“The proposed reforms are not just about preventing financial gain for perpetrators; they are about sending a clear message that Australia will not tolerate abuse in any form.”

“This is an opportunity for us as advocates and policymakers to work together to ensure super is not being used as a mechanism for financial abuse.”

Subscribe

Join our subscribers get exclusive access to freebies and the latest news

Subscribe now!
NEED TO KNOW