The rules have been changed many times with regards to Superannuation.
Changing rules on qualifying access to Superfunds under an early release scheme that would be optional under an exceeding a mandatory balance cap rule impacts no one. By the very fact that it is optional and above a capped level.
If you wanted to retire overseas or where leaving the country permanently you once could take all your Super with you. Now it stays here until preservation age.
Transition to Retirement age was raised from 55 to 60. Those that had planned and invested on that had a set of rules they planned and followed and had change on them and where impacted, same with above intending to leave the country, had a rule changes on them that affected them negatively.
Those with high balances are going to have goal posts moved on them and be subject to higher taxes and locked into these higher taxes without options to move that extra money out IF THEY WANT and by doing so impact no one else but themselves.
I have to disagree, if a Cap comes in to play, that is the government saying this is all you need to fund a reasonable retirement then extra has to be able to be used for whatever purpose those with high balances choose to do.
