The Gillard Government has announced a new Superannuation Roundtable to consider ideas raised at the Tax Forum for providing Australians with more options in retirement and improving certain superannuation concessions.

Our superannuation system is based on the foundation of compulsory savings, supported by concessional tax treatment, with the aim of ensuring that more Australians have adequate savings in retirement.

The Government is already implementing important reforms to make superannuation concessions fairer for low-income earners and improve the adequacy and equity of the retirement income system. These include increasing the superannuation guarantee, introducing the low income superannuation contribution, abolishing the age limit on the superannuation guarantee, and providing Australians with access to low-cost funds through MySuper.