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Prime Super urges caution on SG increase
Prime Super, the superannuation fund heavily exposed to rural and regional Australia, has qualified its support for the Government's proposed lifting of the superannuation guarantee to 12 per cent, arguing care needs to be taken with respect to small businesses, partnerships and sole traders.
The fund said that while it supported any measures that improved the superannuation situation of its members, it believed careful consideration needed to be given to how the increase was phased in, particularly for small business.
"It is essential that the implementation of this change does not overly burden employers or solely impact employees," the fund's chief executive, Lachlan Baird, said.
"Small businesses are the lifeblood of rural and regional communities and we would urge the Government to consider the impact on them as well as large corporates," he said.
AUTHOR
Mike Taylor
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