The Federal Government has made clear it has no plans to abandon raising the superannuation guarantee to 12 per cent by 2025 despite research from lobby group, the Grattan Institute, that the rise is not warranted.
Federal Treasurer, Josh Frydenberg has used multiple media interviews to reinforce that the Government has no plans to change its approach to the SG.
The Coalition Government acted to delay the Australian Labor Party’s planned program of increases to the superannuation after it came to office in 2013 meaning it would not reach the planned 12 per cent until 2025, seven years later than planned by the Labor Party.
Questioned on the Grattan Institute suggestions that an increase was not warranted, Frydenberg said the Government had no plans to change its approach, citing the certainty needed by retirees.
“I think people want the certainty when they are planning their investment, that’s legislated, and planning for their retirement,” he said.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Aware Super has outlined its systematic approach to corporate engagement as institutional investors increasingly assert their influence on company boards and take on an active stewardship role.
The country’s second-largest super fund has completed its fourth SFT this past financial year and welcomes almost 5,000 new members.
The corporate fund has announced it is seeking a suitable merger partner as the number of corporate super funds in Australia continues to dwindle.
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