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Brogden slams Hockey on SG
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| John Brogden
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The Federal Opposition’s failure to support a lifting in the superannuation guarantee has earned a reprimand from the Investment and Financial Services Association (IFSA).
IFSA chief executive and former NSW Liberal Opposition Leader John Brogden has called on the Federal Coalition to reverse its decision to oppose increasing the superannuation guarantee to 12 per cent.
Responding to Opposition Treasury Spokesperson Joe Hockey’s vow to oppose the SG increase, Brogden said: “The Coalition must reverse its position.
“This is a bad outcome for Australians and their retirement outcomes,” he said. “Australians need more superannuation if they are to get anywhere near an adequate retirement.”
Brogden said IFSA had been explaining to governments for years that Australians had not saved enough for their retirement and the superannuation guarantee had to increase to at least 12 per cent.
“Our research shows that Australians face a $690 billion savings gap, and 9 per cent superannuation is simply not enough,” he said.
AUTHOR
Mike Taylor
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