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ASFA supports ACTU recommendation to raise super guarantee
The Association of Superannuation Funds of Australia (ASFA) has voiced its support for the Australian Council of Trade Unions (ACTU) Congress' recommendation that higher super contributions of 15 per cent are needed to fund an adequate retirement lifestyle.
"The ACTU's policy affirms that 9 per cent is not adequate. We also applaud their focus on closing gaps in the current coverage of the superannuation guarantee," ASFA chief executive Pauline Vamos said.
ASFA has long been an advocate of raising the super guarantee to 15 per cent and have said that the organisation supports a super target of 15 per cent contributions by 2015.
ASFA argued in its submission to the Henry Review on Tax that the age at which superannuation should become tax free should be raised to 65, and super tax for low and middle income earners should be improved by rebating the 15 per cent contributions tax through the co-contribution scheme.
AUTHOR
Mike Taylor
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