Super legislation and regulatory update

This update covers new legislation and regulatory developments for the March quarter of the 2025 calendar year.

On 25 March 2025, the Australian Government handed down its Federal Budget.

Read ART’s 2025/26 Federal Budget Summary.

For a deeper analysis read the insights from our Chief Economist Brian Parker.

On 14 March the Federal Government released for consultation the long-awaited draft payday super legislation. For more information, see the Treasury website and our Payday Super Draft Bill article.

The Australian Prudential Regulation Authority (APRA) released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the December 2024 quarter.

Total superannuation assets increased by 2.1% over the quarter to reach $4.2 trillion as at December 2024, of which $2.9 trillion was in APRA-regulated funds.

More information is available in the APRA Quarterly Superannuation publication and APRA Superannuation statistics for December 2024.

In March, APRA also released a discussion paper that proposes significant changes to its governance framework for banks, insurers, and superannuation trustees. These updates aim to reflect contemporary best practices and address areas of poor practice. 

Indexation of the general transfer balance cap (TBC) will occur on 1 July 2025.

• This cap will increase by $100,000 from $1.9 million to $2 million.
• The defined benefit income cap (DBIC) will increase to $125,000 (from $118,750) for the 2025–26 income year.