Super Guarantee rate

Minister responsible for superannuation “ambivalent” about SG rate increases

The Minister responsible for superannuation is “ambivalent” about increases to the SG rate, while the PM has suggested such increases may need to be reconsidered due to COVID-19, and the Retirement Income Review is sitting on the Treasurer’s desk. The debate over when, or if, to increase the Superannuation Guarantee… Read More »Minister responsible for superannuation “ambivalent” about SG rate increases

Super Guarantee under attack from “unholy coalition”: Albanese

The currently legislated increase to the Super Guarantee rate is under attack from an “unholy coalition”, says Labor Leader Anthony Albanese. Albanese used his latest ‘vision statement’ speech to criticised groups opposed to increases in the Super Guarantee rate. “At the moment we are witnessing an unholy coalition attacking the… Read More »Super Guarantee under attack from “unholy coalition”: Albanese

RBA forecasts have 80% of Super Guarantee increases coming out of wages growth

The RBA, when preparing its forecasts, is working on the basis that 80% of the cost of increased Super Guarantee for private sector workers is passed on as slower wages growth. Appearing before a House of Representatives Committee, Dr Luci Ellis, Assistant Governor (Economic) with the RBA, said the forecasts… Read More »RBA forecasts have 80% of Super Guarantee increases coming out of wages growth

Research questioning raising SG rate based on “fantasy world”: ISA

Industry Super Australia has disputed the findings of ANU research on the appropriate level of the Super Guarantee rate, describing it as based on a “fantasy world with dangerous conclusions”. There is currently a debate raging about how high the Super Guarantee rate should be set. The Government has started… Read More »Research questioning raising SG rate based on “fantasy world”: ISA

Treasurer returns to ‘no plans’ to change SG rate timetable language

Treasurer Josh Frydenberg has returned to the language of ‘no plans’ to change increases in the Super Guarantee rate, only days after the Review of Retirement Incomes started. The Treasurer was asked on ABC’s Insiders if the Government was committed to increasing the SG rate to 12% by 2025. Frydenberg… Read More »Treasurer returns to ‘no plans’ to change SG rate timetable language