The Federal Government will implement a new superannuation system that focuses on allowing employees to choose their own super fund. And it says people should be able to split their super contributions with their spouses.

Assistant Treasurer Helen Coonan said the Government is close to releasing details of changes made to the Choice Superannuation Bill, which will be debated in the spring parliamentary session. She says the changes “will make it easier for employers to meet their obligations and employees to choose a fund”.

“A sense of ownership is vitally important to encouraging people to think about their superannuation and plan for retirement,” she said at the weekend. “It’s hard to believe in this day and age that anyone could seriously suggest that you cannot have a say about where your own superannuation goes.”

Senator Coonan believes “super-splitting” will enable spouses who work in the home to build their own savings for retirement.

“The splitting measures will continue to be developed in coming months and will give Australians who might not otherwise have the chance to accumulate super a golden opportunity to establish their own nest-egg,” she said.