Super SA

In reply to the Hon. S.C. MULLIGHAN (Lee) (25 November 2020). (Estimates Committee B)

The Hon. R.I. LUCAS (Treasurer): I have been advised the following:

The fee increase in the Triple S scheme, which came into effect on 1 January 2020 raised $4.5 million in the financial year ended 30 June 2020 and is budgeted to raise an additional $7.4 million in the 2020-21 financial year.

In the income stream scheme, fee reductions were introduced (from 1 January 2020). These are budgeted to reduce fees by $2.7 million in the 2020-21 financial year.