Treasurer Jim Chalmers will announce on Wednesday a package of reforms to the retirement phase of the superannuation system, to make it easier to navigate and consumer friendly.
In a speech to the industry, Chalmers will point out the superannuation system is reaching “a pivotal moment”, with more than 2.5 million people expected to retire in the next decade.
Over the next four decades, superannuation drawdowns are estimated to increase from 2.4% of GDP to 5.6%.
