Before we just look at the specific requirements in this bill, I think it's worthwhile just looking at the international context for what's happening with superannuation around the world. The first thing I'd say: most countries are dealing and looking and reassessing their entitlement to superannuation, given, as populations are ageing, demographic changes are occurring. Virtually all OECD countries are on a pathway to increase the age of entitlement—broadly, most are aiming to increase it to age 66 or 67 years—and around half of the Governments have undertaken major pension reforms. Our closest neighbour, just as an example, has already increased the age of eligibility to 67 years, and has a further plan to increase it to 70 years. If New Zealand keeps at the current rate of 65 years, then the costs of New Zealand super will effectively double over the next 40 years to 2060, whereas in Australia, with those changes they've made, there will be quite a substantial reduction in the cost of super. 