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Raising super age will create uncertainty around retirement
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| Chris Pearce |
The Government’s announcement that it will consider raising the superannuation preservation age to 67 will create uncertainty around superannuation and retirement planning, according to the Shadow Minister for Financial Services, Chris Pearce.
“There is an emerging level of uncertainty in the community if older Australians will again be targeted to pay for the massive Rudd Labor debt,” Pearce said.
The Financial Planning Association and the Australian Institute of Superannuation Trustees have said that the Government’s tinkering with the superannuation system would undermine confidence in the system and discourage saving for super.
“Extending the age for pension entitlements was stage one of Labor’s retirement planning. What are we to find when Kevin Rudd unveils stage two?” Pearce said.
“Australians are greatly worried about their retirement future. They wake up one morning assured of their retirement plans, only to be worried the following day the sky’s falling in.”
AUTHOR
Mike Taylor
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