Archive Article

New Superannuation Changes - How fair are they?

THE RIGHTS STUFF GLRL Newsletter 2004 |

THE RIGHTS STUFF GLRL Newsletter 2004

After almost a decade of tireless campaigning by the GLRL, our community has achieved a significant, though incomplete, win in relation to superannuation.

On 22 June 2004, the Australian Senate passed the Superannuation Legislation Amendment (Choice of Superannuation Funds) Bill 2002 with the support of the Government and Democrats. The Bill will now go to the House of Representatives where we expect it will be passed. The Bill introduces a new category of "interdependency relationships" which will include many (though not all) same sex couples. This will mean that when a lesbian or gay man dies and they are in an "interdependency relationship", their partner will be able to access the deceased partner's superannuation death benefits. These death benefits will receive the same concessional tax treatment currently available to persons in a heterosexual married and de facto relationship.

Unfortunately, there are still some problems with the Bill, which gives only limited recognition of same sex couples. Same sex couples are still not treated the same as heterosexual married and de facto couples. We are not considered "spouses" for the purposes of superannuation. Also, same sex couples who are in a "de facto relationship" under NSW law, will NOT automatically meet the new "interdependency" requirement. We expect most de factos will meet the new test but same sex couples should still seek legal advice to determine how best to ensure their partner can access superannuation death benefits.

To read more about these changes and the struggle for full superannuation equality, see the full article on our website.