The Government has voted against the progression of legislation to allow time for amendments by One Nation’s Pauline Hanson.
Hanson submitted amendments last night to the Treasury Laws Amendment (More Flexible Superannuation) Bill which would have seen higher concessional contributions for high income earners aged 67 and above.
She also requested an amendment that those who withdrew $20,000 through the early access to super measures last year were able to put that money back in to their super.
This morning, she was not in the Senate chamber in time to move these amendments so the Government voted against progressing the legislation to allow time for her to arrive.
The move was described as “embarrassing abuse of power” by Senator Jenny McAllister.
“Hanson has been shamed into running down into the Chamber to fiddle this amendment for her own personal gain”, said Senator Murray Watt.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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