The Australian government led by Prime Minister Anthony Albanese has announced significant changes to the country's superannuation system in the wake of the collapse of First Guardian, a fund that left many members' retirement savings at risk. The move signals an effort to tighten oversight of superannuation providers and better protect savers after the failure exposed gaps in how such funds were regulated and monitored.

The article text supplied does not include further specific details of the proposed reforms, such as timelines, regulatory bodies involved, or the scale of losses suffered by First Guardian members. Readers seeking full details of the policy changes would need to consult the complete original report for the precise measures being introduced.