Treasurer Promises Not to Weaken Super Test
Australians have learned to be wary when this Government starts ruling things out. So the Treasurer’s latest assurance that he won’t water-down the superannuation performance test should concern every Australian with a super balance.
“The performance test has been one of the most important reforms to protect Australians’ retirement savings,” Mr Hogan said. “It has lifted standards across the system and helped ensure people retire with more, not less.”
The Coalition introduced the performance test to expose underperforming funds and protect Australians’ retirement savings. Since its introduction, average MySuper fees have reduced by around 20–25 per cent, and Australians’ savings have moved out of lower-performing funds.
“That’s real money back in Australians’ pockets,” Mr Hogan said. “Even a one per cent difference – through lower fees or stronger returns – can mean hundreds of thousands of dollars more in retirement.”
Mr Hogan said while the Treasurer had acknowledged the success of the test, concerns remained about the Government’s intentions with any changes.
“We welcome the Treasurer recognising the test has been successful,” he said. “But there is a real risk the Government sees the test as a barrier to directing super into their political priorities like social housing and green infrastructure.”
“Super is not a political piggy bank for Governments,” Mr Hogan said. “It exists for one purpose – to deliver strong, reliable returns for your retirement.”
Mr Hogan said the Coalition would engage constructively but drew a clear line.
“Any changes must put members’ financial interests first – always,” he said.
“Super is your money. You earned it. We will fight to keep it working for you.”
ENDS
20 April 2026
Media Contact: Chadd Gunton – 0421 620 398
