SUPERANNUATION
No further major reforms announced
The Treasurer did not announce any new major superannuation measures in the Budget. This will be a welcome relief for the superannuation industry, which is already suffering from "reform fatigueā€¯.
Several minor superannuation measures were announced, including the announcement that the Government will cease late registrations for the Pension Bonus Scheme from 1 March 2014. All those eligible for the scheme will still have an opportunity to register before 1 March 2014 and receive the bonus.