Jane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) | Hansard source

The government is not aware of any evidence that would suggest that it would be harder for members to get default cover once they turn 25 or their balance reaches $6,000. In fact, some funds already offer insurance at similar trigger points without the need for underwriting. The government doesn't anticipate that the terms on which insurance will be provided to people once they turn 25 will be materially different from the current arrangements. Certainly it is the case at AustralianSuper, which was the fund that kicked off this process. However, the government will monitor the implementation of these changes and will consider the need for further actions should trustees' actions not provide people with appropriate insurance in the future. I should remind Senator Whish-Wilson that these measures and this bill have already been examined by the Senate Economics Legislation Committee, not once but twice. It was originally examined as part of the protecting your super package last year, including at public hearings, and again earlier this year as part of this particular bill. Both times the committee recommended the Senate pass the measures.