Superannuation has re-emerged as a Federal Election issue with the Opposition claiming the Howard Government is considering forcing Australians to wait longer before they can access their superannuation entitlements.
The Opposition Spokesman on Retirement Incomes, Senator Nick Sherry says a leaked report from the Prime Minister’s Community Business Partnership recommends a review of the superannuation preservation age.
He says any move which increases the preservation age beyond the current 60 will reduce choice for older Australians.
Sherry says the Government needs to clarify its position, particularly in light of Treasurer Peter Costello’s announcement on retirement incomes earlier this year.
“Will the Treasurer be honest with the Australian people about his plans to increase the preservation age?” he says. ” Does the Treasurer still only have one response to the ageing population: ‘work until you drop’?”
Senator Sherry contrasts the Government’s position with that of the Australian Labor Party, which he says offers ageing Australians real choice.
