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The Australian Institute of Superannuation Trustees (AIST) has welcomed an announcement by the Federal Attorney-General today that separated de facto couples in Western Australia will soon be able to achieve a fair split of their superannuation assets in property settlements.
Attorney-General the Hon Christian Porter has announced today that the Morrison Government will amend the Family Law Act 1975 to allow for the move, ending a decade-old stalemate between the WA and Commonwealth Governments.
AIST CEO Eva Scheerlinck – who earlier this month wrote to both the Attorney-General for Australia and the Attorney-General for Western Australia highlighting the need to make super splitting laws fairer for de facto couples in WA – said the previous laws were inequitable and out of step with every other Australian State.
Under the existing law in WA, de facto couples are denied the same rights as married couples and are at risk of not achieving the same financial outcomes as others. This has particularly disadvantaged many WA women in property settlements, where their partner’s superannuation is the main asset.
"De facto couples in the West have been treated very unfairly regarding the treatment of super assets in property settlements,” Ms Scheerlinck said.
“We are pleased that the Attorneys-General has taken our concerns on board and will bring the WA system for super splitting into line with other states,” Ms Scheerlinck said
“This makes the system more equitable and promotes just outcomes for de facto fund members,” Ms Scheerlinck added.
Ms Scheerlinck said AIST would be urging the Government to introduce the legislation into Parliament as soon as possible.
Media contact: Janet de Silva 0448 000 499
AIST is the peak body for the $1.2 trillion profit-to-member superannuation sector which includes industry, corporate and public-sector funds.