The 2016 budget includes the biggest shake-up to Australia's superannuation system in years, designed to benefit lower income earners.
New rules for the annual contribution cap mean people returning to work after time away can put more into their superannuation than the current $25,000 limit.
However, the wealthy are set to be worse off under the changes which will see more high income earners captured by a 30 per cent tax on super contributions, as the tax-free contribution threshold drops from $300,000 to $250,000.
Related reading
Budget 2016 receives mixed response from voters
To stop tax avoidance, tax free retirement balances will be capped at $1.6 million and after tax super contributions are now covered by a lifetime cap of $500,000.
Industry Super Australia chief economist Stephen Anthony told SBS News he welcomed the changes, particularly those allowing people returning to work to top up their super balance.
"Part of the objective of that policy was to address that huge imbalance between males and females," he said.
"Males right now have 45 per cent higher super balances than females."
But Self-Managed Super Fund Association chief executive Andrea Slattery said she was concerned about the flow on effects of the restrictions on higher income earners.
"It means that people are not going to be able to save sufficiently for their retirement," she said.
"There is a restriction on the next generation."
Business owner Patricia Curtin was also concerned about the practicalities of the new changes.
"I think just tuning into the realities of the implementation of these is probably my biggest worry because you don't want to breach a regulation," she said.
But working mother Aiying Law said she welcomed the changes.
"As working mums, we're always struggling to get that balance between raising children and making quite a significant contribution to the household," she said.
"It gives me some security in setting up for your retirement."
