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Coalition's super policy 'disappointing', says AIST
A Coalition policy statement on superannuation has been slammed by the Australian Institute of Superannuation Trustees (AIST) as “disappointing” for not containing any concrete plans.
“Given the importance of super to both retirement incomes and the national economy, it’s very disappointing that the Coalition hasn’t been able to come up with a more comprehensive super policy,” said AIST chief executive Fiona Reynolds.
“The Coalition has had plenty of time to consider the three major reviews that we’ve had into super. Australians voters are entitled to expect more than a policy document that has no concrete plans or even fresh ideas on how to address retirement income adequacy and the challenge of Australia’s ageing population,” she said.
The Coalition has reiterated that it will scrap the superannuation guarantee (SG) age limit and request that the Australian Office of Financial Management examine issuing bonds for terms of up to 30 years.
The Coalition has also said it will give full consideration to the 177 recommendations arising from the Cooper Review during its first term in office, and stated that it will release Treasury modelling of the Henry Review’s recommendations for superannuation.
Shadow Treasurer Joe Hockey last week said it was impossible for the Coalition to respond to a proposed increase in the SG from 9 per cent to 12 per cent without seeing the full modelling behind the Henry Tax Review.
AUTHOR
Mike Taylor
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