There are many examples of Federal Parliament’s use of grandfathering provisions when major changes were made to the superannuation system. For example:
in a September 1996 Research Paper, the Reserve Bank of Australia said:
“Important changes to the tax rules were made in 1983, 1988, 1992, and 1996, which generally reduced the tax benefits to superannuation, although the treatment remained concessional. … Changes were generally grandfathered at each stage, so that retirees would receive benefits taxed under a variety of rules depending on when contributions were made.” (p 9); and
in a July 2015 study, Superannuation Policy for Post-Retirement, the Productivity Commission said:
“Australia’s superannuation system has been subject to regular policy change since its inception (chapter 1), and those people significantly affected by major rule changes have generally been afforded grandfathering provisions that maintain their previous entitlements.” (p 101).
