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MySuper legislation still before Parliament

Some efficiency measures that create common standards for processing and reporting superannuation transactions are now law after passing the Senate before Parliament went into its six-week winter recess last week.

The legislation, known as Stronger Super, makes it easier for fund members to keep track of and consolidate their superannuation accounts and streamlines operational processes for employers and funds.

However, the MySuper legislation under which low-cost default super accounts can be offered is still before the House of Representatives.