This letter has been prepared in response to a call for submissions from the Senate Economic Legislation Committee regarding the Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019.

Rice Warner supports the objectives of the package, and the already implemented changes in Protecting Your Superannuation (PYS), due to the importance of designing insurance that does not inappropriately erode superannuation account balances. However, we have identified two key issues in the Putting Members’ Interests First Bill that we believe the Government should consider addressing.