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02.01.2022 Super Changes affecting all Australian from 1st July - If you get superannuation The government’s ‘Protect your Superannuation’ package rolls out today, which will primarily benefit young people and low-income earners. Here’s an outline of the changes:... For superannuation accounts with balances below $6,000, there’ll be a 3 per cent cap on admin and investment fees. Exit fees will be banned. Accounts with balances under $6,000 that have been inactive for 16 months will be transferred to the Australian Taxation Office. Regardless of balance, inactive accounts that have default life insurance, which will be lost if you don’t ‘reactivate’ your account by getting in touch with your super fund or making a contribution. So if you’ve worked multiple jobs over the last year or two, or you’ve been on maternity leave and no super has been paid into your super account, you could be at extra risk of waking up on 1 July and no longer being covered by the insurance cover you once had.

02.01.2022 More Financial Changes affecting all Australian from 1 July. https://au.finance.yahoo.com//1-july-changes-law-what-it-m