Review of Retirement Income System

The Government has announced a Review of the Retirement Income System – including the Age Pension, compulsory superannuation and voluntary savings – to report by June 2020.

Keep SG rate at 9.5%, reduce tax concessions to fund health: ACOSS

ACOSS has recommended freezing the Super Guarantee rate at 9.5%, while winding back superannuation tax concessions to fund health and aged care services. The Australian Council of Social Service (ACOSS), in a submission to the Review of Retirement Income, and drawing on the work by the Grattan Institute, recommends the… Read More »Keep SG rate at 9.5%, reduce tax concessions to fund health: ACOSS

False narratives risk undermining the superannuation system

A senior member of the superannuation industry has warned that the retirement income system risks being undermined. Association of Superannuation Funds of Australia (ASFA) CEO Dr Martin Fahy told the ASFA conference that “superannuation is currently in the grip of a contagious false narrative which risks undermining the retirement outcomes… Read More »False narratives risk undermining the superannuation system

Vital signs. Our compulsory super system is broken. We ought to axe it, or completely reform it

Written by Richard Holden, UNSW. The just-announced inquiry into Australia’s retirement income system ought to be anything but run-of-the-mill. Taking place 25 years after the introduction of compulsory superannuation, it provides an opportunity to either fix a broken system, or discard it as failed experiment. Incremental reform won’t work. There’s… Read More »Vital signs. Our compulsory super system is broken. We ought to axe it, or completely reform it

Postcode by postcode: a clever way to include homes in the age pension assets test

Written by Anthony Asher, UNSW. Here’s the boldest idea the government’s inquiry into retirement incomes should consider but might not: no longer exempting all of the value of each retiree’s home from the pension assets test. The test would merely exempt part of the value of retirees’ homes. The change… Read More »Postcode by postcode: a clever way to include homes in the age pension assets test

Lower income earner view should be on Retirement Income Review panel

The Australian Council of Social Service (ACOSS) is calling for an expansion of the Review of the Retirement Income System panel to include someone with expertise about the needs of people on lower incomes. “While ACOSS welcomes the review, the panel does not include expertise from community organisations representing and… Read More »Lower income earner view should be on Retirement Income Review panel