About this consultation
We are seeking feedback on policy options to better protect people in the superannuation system.
Why this issue matters
The collapse of the Shield and First Guardian Master Funds caused major losses for members. It is important that members maintain trust that their retirement savings are well protected.
What we are considering
We are consulting on changes that:
strengthen trustee governance
make switching superannuation safer
limit or better protect advice‑fee deductions from superannuation
require platform trustees to compensate members for some investment failures on their platforms.
These changes focus on protecting members across the superannuation system.
Background
This consultation is part of the government’s wider response to the collapse of Shield and First Guardian. It aims to improve safety and consumer protections in superannuation and financial services.
Have your say
You can answer some or all questions in the consultation paper. You can also provide general feedback.
You may make your submission public, confidential or anonymous, in line with Treasury privacy rules.
Submit your response
You must submit your response on this website.
Before you submit
To help you prepare your response, we recommend that you:
- read the supporting documents
- prepare your response in Word (DOCX or RTF) format, you can also upload PDF files as an alternative
- read our submission guidelines
- read our privacy policy
You must agree to our privacy collection statement to submit your response.
If you have any issues submitting your response, you can contact us.
Related content
Strengthening consumer protection in the superannuation system and ensuring sustainability of the CSLR – Media release
Curbing lead generation activity – Consultation
Compensation Scheme of Last Resort – reform options to support ongoing sustainability – Consultation
