The current year has thrown up more questions than it has provided answers with regard to the myriad superannuation policy changes on the table.

With the criticism of the $3 million superannuation earnings tax from the SMSF sector being joined by comments from the representative body for retail and industry funds will the government persist with the proposal or heed the concerns raised by many?

Despite the SMSF sector showing fund members are highly engaged and actively accessing retirement income streams when appropriate the current government has no praise for it and is putting forward tax legislation that unfairly targets SMSFs in comparison to other funds.

Draft legislation to create an objective for superannuation has been released and while it terms seem harmless the proposed application raises questions if the government will direct where and how superannuation is invested.

Government plans to lock down the purpose of superannuation is being undermined by its introduction of policies diverting retirement savings to other purposes.

Plans to change the franked dividend system may have an immediate impact on the SMSF sector but it may also hit larger funds and even share prices as people revise their positions on listed stocks.

The May budget was a quiet affair for the superannuation sector but its silence also leaves unanswered questions around a timetable to resolve issues with legacy pensions and residency rules.

The government has proposed an objective for superannuation but its vague terms raise concerns politicians could manipulate retirement savings.

The government’s additional 15% tax on superannuants with total superannuation balances over $3m will disproportionately affect SMSFs.