Rest members signal support for pre-budget policy | Australian Markets

A survey commissioned by superannuation fund Rest of its members has discovered ‘overwhelming support’ for the fund’s proposed policy reforms as half of its 2025-26 pre-Budget submission printed in January.

The survey of 1,007 Rest members, performed by Redbridge Group between January and February this yr, confirmed vital endorsement of 4 advisable policy modifications particularly, which Rest Chief Strategy & Corporate Affairs Officer, Tyrone O’Neill, mentioned indicated the public felt strongly about implementing a fairer super system.

The 4 advisable policy modifications that obtained essentially the most support from Rest members included:

• Protect the super of household violence victims: 80 per cent support altering the law so household violence perpetrators are usually not capable of inherit their sufferer’s superannuation advantages. Only one per cent oppose this.
• Update the Low Income Super Tax Offset (LISTO): 77 per cent support raising the LISTO so it’s fairer for low income staff. Only one per cent oppose this.
• Commence a review into Superannuation Carers’ Credits: 71 per cent support a system to use credit to the super of dad and mom and carers for time away from work. Only 3 per cent oppose this.
• Super for all under-18 staff: 71 per cent support making super payable to all staff underneath the age of 18, regardless of how many hours they work. Only 5 per cent oppose this.

“Rest represents over 2 million Australians, including around 1.2 million women and 1 million workers under the age of 30. This is equivalent to 1-in-7 working Australians – a sizeable segment of the labour force – expressing support for fairer and more equitable super,” O’Neill mentioned.

“We’ve made 10 policy suggestions to the Government that we imagine will support fairer and more equitable retirement outcomes for our members and have a constructive influence on the world they may retire into.

“Our precedence suggestion is to increase the Superannuation Guarantee to all under-18 staff, together with these working much less than 30 hours per week, with an applicable transition period for companies.

“The current rules are unfair and disadvantaging young Australian workers. We urge the Government to commit to this change in the Budget and include a thorough consultation process and multi-year staged approach to implementation.”

According to the super fund’s submission made forward of the 2025-26 Budget’s release tonight, it made 5 different suggestions together with:

• “funding and developing a framework for knowledge sharing between authorities businesses and super funds to uplift knowledge integrity, and support efficiencies throughout the system
• co-designing with First Nations peoples the development of a holistic ‘First Nations Retirement Strategy’
• establishing an formidable, Paris-aligned and scientifically backed 2035 Australian Nationally Determined Contribution (NDC) with a purpose to guarantee a swift and orderly transition to a Net Zero economic system, and prioritise the release of the Net Zero Plan and sturdy sectoral decarbonisation plans with a purpose to give traders the understanding needed to allocate capital to the transition
• accelerating present work with State and Territory Governments to prioritise policy modifications to encourage institutional investment in housing provide, and
• outlining a more detailed roadmap and supply applicable resourcing for the following section of the sustainable finance agenda, together with a concentrate on respectable work and social and financial inequality.”