Raising the Superannuation Guarantee rate to 12% is key to improving the retirements of women, despite concerns it could widen the super gender gap, says the Australian Institute of Superannuation Trustees. A debate around raising the Superannuation Guarantee rate is ongoing, driven in part by a report from the Grattan… Read More »12% super rate vital to women’s retirement, even if widens gender gap
The findings in a controversial report from the Grattan Institute are broadly in line with internal Treasury analysis, documents recently released under FOI reveal. A Grattan Institute report released late last year, called Money in retirement: more than enough, found that most Australians would have enough money for retirement, and… Read More »Grattan Institute superannuation findings “broadly consistent” with Treasury
There is “no clear empirical evidence” that increasing the Super Guarantee rate directly lowers wages, according to research by the McKell Institute. As the Institute notes, there is currently a “live debate” over increasing the Super Guarantee rate. The SG rate is currently legislated to gradually increase from its current… Read More »No evidence increases in Super Guarantee comes out of wages
A Labor shadow Minister has claimed there is a ‘dirty dozen’ of Coalition MPs with the mission of “blowing up” the superannuation system. The “plot of these conspirators was undisclosed” during the election campaign, Stephen Jones, Labor’s Shadow Assistant Treasurer and Shadow Minister for Financial Services told the Financial Services… Read More »‘Dirty dozen’ of Coalition MPs trying to blow up super system: Labor
Australians have “overwhelmingly rejected” an attempt to slow or freeze increases in the Superannuation Guarantee, says Industry Super Australia. A survey, released by Industry Super Australia, found 87% supported the Super Guarantee rate rising from 9.5%, with some preferring either 10%, 12% or 15%. The Super Guarantee rate is currently… Read More »Australians reject slower increase to Super Guarantee rate, survey finds
A Liberal Senator has argued for allowing people on low incomes to opt-out of receiving Super Guarantee contributions – instead receiving the money directly – at a time when senior members are ruling out changes to the Super Guarantee. Liberal Senator Andrew Bragg has used his first speech to the… Read More »Low income earners should be able to opt-out of Super Guarantee: Liberal Senator
The Treasurer and Minister for Finance have clearly ruled out changes to the Super Guarantee timetable, though they are yet to be joined by the Prime Minister. The Treasurer has joined the Minister for Finance in ruling out changes to the timetable for increases to the Super Guarantee rate. Earlier… Read More »Treasurer also rules out slower Super Guarantee rate increases
The Minister for Finance has ruled out changes to the timetable for Superannuation Guarantee increases, something which the PM and other senior Ministers have refused to do. A senior member of the Government has ruled out slower increases to the Super Guarantee rate, following growing speculation that backbenchers will drive… Read More »Finance Minister rules out changes to Super Guarantee increases
Treasurer Josh Frydenberg has repeated that the Government has “no plans” to change the legislated increases to the Super Guarantee rate. Asked on ABC’s Insiders if the Government was committed to increasing the Super Guarantee rate to 12% by 2025, the Treasurer said: “We have no plans to change that… Read More »“No plans” to change increases to Super Guarantee rate: Treasurer
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