Public servants in the ACT have expressed deep concern at reports the territory’s Labor Government is actively considering reducing its superannuation contribution from the 15.4 per cent that matches the Commonwealth to the standard 9 per cent.
The large Community and Public Sector Union (CPSU) has referred to the outcome of a recent review of Government spending in the ACT and warned that the maintenance of the existing 15.4 per cent contribution represents a “die-in-the-ditch” issue for government workers in Canberra.
CPSU ACT branch spokesman Vince McDevitt said the level of the contribution was of concern in circumstances where politicians were enjoying a 30 per cent contribution.
The Government has refused to confirm its intentions, but any change is expected to be announced in its forthcoming Budget, which is due later this month.
Australian super funds have posted early gains in FY26, driven by strong share market performance and resilient long-term returns.
Following the roundtable, the Treasurer said the government plans to review the superannuation performance test, stressing that the review does not signal its abolition.
The Australian Prudential Regulation Authority (APRA) has placed superannuation front and centre in its 2025-26 corporate plan, signalling a period of intensified scrutiny over fund expenditure, governance and member outcomes.
Australian Retirement Trust (ART) has become a substantial shareholder in Tabcorp, taking a stake of just over 5 per cent in the gaming and wagering company.