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Auto-rollover default super could boost savings by over $400 billion

Automatically rolling super fund members into new default super funds when they switch employers could boost retirement savings by over $400 billion. Recent inquiries have looked to change how default super funds are set to tackle the issues of underperformance by funds and reduce unwanted multiple accounts. The Financial Services… Read More »Auto-rollover default super could boost savings by over $400 billion

Deeming rates explained. What is deeming, how does it cut pensions, and why do we have it?

Written by Peter Martin, Crawford School of Public Policy, Australian National University. Now it’s the Coalition that’s being accused of a “retiree tax”. As interest rates have come down over the past four years, the rate that retirees are “deemed” to have earned for the purpose of the pension income… Read More »Deeming rates explained. What is deeming, how does it cut pensions, and why do we have it?

Morrison must rule out delays to Super Guarantee rate increases: Labor

Labor has called on the Prime Minister to rule out further delays to the legislated increases in the Superannuation Guarantee rate, after reports that backbenchers are agitating for such a delay. Labor’s Shadow Treasurer Jim Chalmers said: “Scott Morrison must rule out calls from his backbenchers to hurt workers saving… Read More »Morrison must rule out delays to Super Guarantee rate increases: Labor