A cap on superannuation balances would not penalise people who have taken advantage of past contribution rules, but counter their generous provisions.

Uncapped superannuation balances are hard to argue for in a taxpayer-subsidised system and reduce consumer trust and confidence.

The possible move by the government to impose a cap on superannuation balances has met with opposition from another industry body.

Any government policy aimed at making changes to the superannuation system should be taken to an election to allow Australians to vote on the issue.

The possibility of the Labor government introducing a cap on superannuation asset balances has again been criticised by the SMSF Association.

It has been claimed the current superannuation tax concessions require amending as they do not enable equity in the retirement savings system.

The new Labor government has confirmed a review of the tax concessions contained within the superannuation system is one of its policy objectives.