The Albanese government is proposing changes to the object of superannuation by making sure it "preserves savings to deliver income for a dignified retirement".
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The federal government has opened up consultation on making laws on the proposed objective as part of a pre-election promise it made last year.
The consultation paper proposes "the objective of super is to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way".
The consultation paper will seek feedback about the phrasing, benefits and roll out of this proposal.
The government is moving to legislate safeguarding retirement savings after $36 billion of super was opened-up in early release schemes under the Coalition in the pandemic.
Australians have about $3.3 trillion in superannuation.
Treasurer Jim Chalmers is expected to deliver a speech in Sydney on Monday stating the government was planning to "end the super wars once and for all".
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Dr Chalmers described the "disastrous" policy of withdrawing billions in the pandemic "because our predecessors were navigating the super landscape without a compass".
"This made us vulnerable to wrong turns and wrong decisions. It moved us further away from where we need to be, better living standards in retirement for as many Australians as possible," Dr Chalmers said.
"Legislating super's objective will change that because for the first time we'll have a true north, a shared goal that we can work towards together."
Dr Chalmers said a strong economy and society was necessary to "future-proof" super and would enhance the ability of super to meet its core objective.
He said failure to act on affordable housing, climate, or investing in the care and digital economies would mean facing an economy that could not sustain growth.
"And that this will all be to the detriment of a good, dignified retirement for as many Australians as possible," he said.
